Big airplanes and regional operation certificates operated by Alaska’s RavnAir Group are set to be acquired by a Southern California company for $8 million.
Float Shuttle intends to take over six of the Dash-8 aircraft and two federal operating licenses operated by RavnAir ‘s companies, Corvus and PenAir, Alaska Public Media announced.
The carriers operated travelers from Anchorage to the Aleutian Islands, the Kenai Peninsula and numerous rural Alaska destinations. RavnAir cited the economic impact of the coronavirus when the company halted operations April 5, laying off staff and filing for bankruptcy protection.
The airline regularly flew more than 400 flights a day, utilizing a total of 72 aircraft. Since the coronavirus epidemic, passenger traffic declined more than 90 percent.
“This is a way for us to do what we had hoped to do which is be able to resume Part 121 operations in the state of Alaska and get employees rehired,” RavnAir attorney Jane Kim said after a bankruptcy hearing.
Float Shuttle plans to take advantage of a $31.6 million payroll support loan the federal government offered to a RavnAir successor, Kim said.
The $8 million price is far below the $19 million RavnAir set as a minimum bid at a failed auction for the certificates and nine Dash-8 planes.
Kim did not disclose specifics on when Float Shuttle expects to restart Alaska service. Float Shuttle, which calls for “FLy Over All Traffic,” provides shuttle service for Southern California commuters trying to beat delays while traveling on the company’s Cessna Caravans. Monthly packages cost $1,250, the company’s website reported.
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