J.F. Lehman & Company’s successful bid for PenAir’s assets was today approved by the court overseeing PenAir’s bankruptcy proceedings. As the owner of Ravn Air Group, J.F. Lehman & Co.’s acquisition of PenAir will protect a substantial majority of company jobs, ensure continuity of operations and service to all PenAir routes, and create stability and better travel opportunities throughout the state.
“We are thrilled with this outcome,” said Dave Pflieger, President and CEO of Ravn Air Group. “It is a win for all parties—our Alaska customers and communities, as well as PenAir and Ravn employees alike.”
PenAir will keep its current name and continue to operate as a separate company under a separate FAA certificate as a subsidiary of Ravn Air Group, which will now have a significantly enhanced ability to serve the state of Alaska.
“Both my father, founder of PenAir Orin Seybert, and I are pleased with the decision of the court today,” said Danny Seybert, PenAir CEO. “This is a win-win for our employee group, AND our friends and customers throughout rural Alaska.”
Earlier this week, J.F. Lehman & Co.’s bid was selected as part of a court-mandated auction of PenAir’s assets conducted by a court appointed Trustee. However, that selection required today’s formal approval from the U.S. Bankruptcy Court in Anchorage. Before becoming final, this purchase must also be approved by the U.S. Department of Transportation and Federal Aviation Administration.
“It is a testament to the strength and fortitude of PenAir employees and the hard work and commitment of all Ravn Air Group team members that JFL was able to pursue the acquisition of such a storied airline, which, like Ravn, has a rich history of serving Alaska,” Pflieger said. “We are all very excited about our collective future and working together toward a shared goal of providing the very best in safety, operational excellence, customer service, and employee pride throughout Alaska.”
About Ravn Air Group
Ravn Air Group is headquartered in Anchorage and supported by over 1,000 employees. Ravn operates a highly reliable fleet of almost 70 aircraft on more than 400 flights per day (almost 3,000 flights a week) from hubs in Anchorage, Fairbanks, Bethel, Aniak, St. Mary’s, Nome, Kotzebue, Unalakleet, Barrow, and Galena. Ravn also earlier this year expanded service to Dillingham, King Salmon and will also add McGrath in October. Ravn Alaska has an FAA approved Safety Management System (SMS), and in May of 2018, it passed the International Air Transportation Association’s (IATA) Safety and Operational Audit with flying colors and became an IOSA approved airline. Ravn Air Group provides passenger, mail, freight, and charter customers with air transportation and logistics services to more than 115 destinations throughout Alaska. Ravn also has interline airline agreements with Alaska Airlines, American Airlines, Delta Air Lines, Sun Country and United Airlines to carry their passengers across the state. Passengers may participate in Ravn Alaska’s FlyAway Rewards program for all Ravn Alaska or Ravn Connect flights or accrue Alaska Airlines miles on select Ravn flights.
Celebrating over 60 years of service, PenAir began in 1955 in Bristol Bay, Alaska. Today, PenAir is the only airline operating scheduled passenger service with the Saab 2000. PenAir currently serves six communities in southwest Alaska. PenAir is among the first air carriers in the United States to have received approval by the FAA for its Safety Management System (SMS). This approval and validation in achieving the highest safety verification in the industry shows their strong commitment to safety.