FAIRBANKS, Alaska (KTVF) Ravn Air Group, Alaska's largest rural carrier, is set to stop operations, temporarily lay off all of its remaining staff, and file for Chapter 11 Bankruptcy.
In a press release Sunday, the company stated it has lost 90% of its passenger revenue from all three airlines, Ravn Air, PenAir and RavnAir Connect.
They will also temporarily lay off all remaining staff "until the company is in a position to cover the costs of rehiring, resuming flights, and operating to the many communities it serves throughout our State," according to the press release.
Ravn will park all 72 of its aircrafts and has also "filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware."
This will allow the airlines to "hit pause" until they can receive the financial assistance to get through the COVID-19 pandemic and begin operations again.
Ravn has been in contact with other airlines around Alaska to "establish new or replacement air service wherever possible." according to the press release.