Ravn Air Group to avoid liquidation through a sale process

June 3, 2020—The Honorable Brendan L. Shannon in the United States Bankruptcy Court for the District of Delaware today authorized Ravn Air Group to run a sales process for all or substantially all of its three airlines and their assets in parallel with the consideration of the plan of liquidation that was initiated when the airline filed for Chapter 11 protection. Ravn’s filing on April 5th arose after it, like many other airlines around the world, experienced a 90% loss of passenger sales and revenue due to the impact of the COVID-19 Pandemic and subsequent passenger travel restrictions.

Judge Shannon also established June 24, 2020 as the deadline for Ravn Air Group to receive bids for all or substantially all of its three airlines and other assets. “This is great news for our creditors, our employees, and our customers who are eager to know the future of Ravn Air Group and how soon it will be before our airline can get back in the air and resume vital air service to 115 rural and urban communities that are currently struggling from non-existent or limited service following the requirement that we park our 72 aircraft.” said Dave Pflieger, Ravn’s President & CEO.