Ravn Air Picks Up PenAir: Protecting PenAir jobs, service routes, and operations.

AuthorSimonelli, Isaac Stone

The Ravn Air Group is launching a "new" PenAir, following the acquisition of PenAir's assets by investment affiliates of J.F. Lehman b Company (JFLCO) for $12.3 million.

As the owner of Ravn Air Group, JFLCO's acquisition of PenAir protects a substantial majority of company jobs, ensures continuity of operations and service to PenAir routes, and creates stability and better travel opportunities throughout Alaska, according to a news release announcing the acquisition.

"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 JFLCO was able to pursue the acquisition of such a storied airline, which, like Ravn, has a rich history of serving Alaska," says Dave Pflieger, president and CEO of Ravn Air Group.

Among the key assets acquired in the purchase of PenAir are five forty-five-seat Saab 2000s and leases on several airport facilities.

"This is a big win for Ravn Air Group, as well as for PenAir and all of our team members, customers, and Alaska communities," Pflieger says. "The two companies coming together provides an incredible opportunity to better connect Alaska, with the ability to provide broader, more reliable, and more consistent service."

As a subsidiary of Ravn Air Group, PenAir will keep its current name and continue to operate as a separate company under a separate FAA certificate. With the completion of the transaction, PenAir will be a financially sound organization with a significantly enhanced ability to serve the state of Alaska, Ravn Air Group says.

"The acquisition of PenAir represents another successful step in expanding Ravn's unique service offering and enables us to better serve the residents and businesses of Alaska," says Alex Harman, a partner at JFLCO.

The purchase of PenAir by an Alaska-based airline means that about 250 jobs will remain in the state, Pflieger notes. Will Hanenberg, principal at JFLCO, points out that PenAir's "exceptional safety culture and talented group of employees represent a strong fit" for the Ravn Air Group.

"For Ravn team members, this acquisition marks the culmination of over a year of hard work and effort that has resulted in a stronger, better company that is ready to expand," Pflieger says. "Likewise, we recognize and value PenAir's strong team, assets, and rich history of serving Alaska and are eager to welcome PenAir employees to the Ravn Air Group. We look forward to working together toward a...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT