The assets of bankrupt Alaskan regional carrier PenAir have been acquired by JF Lehman & Company following a successful bid and court approval. As the owner of Ravn Air Group, JF Lehman & Co's acquisition will protect a substantial number of PenAir jobs, ensure continuity of operations and service to all of its routes, and create stability and better travel opportunities throughout the state. As well as its scheduled flying, PenAir offers business charter options.

“We are thrilled with this outcome,” says Ravn Air Group CEO Dave Pflieger. “It is a win for all parties, our Alaska customers and communities, as well as PenAir and Ravn employees.”

PenAir will keep its current name and continue to operate under a separate FAA certificate as a subsidiary of Ravn Air Group, which says it 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,” says PenAir CEO Danny Seybert. “This is a win-win for our employee group, and our friends and customers.”

JF Lehman & Co's bid was selected as part of a court-mandated auction of PenAir's assets, and required formal approval from the US Bankruptcy Court in Anchorage. The purchase must also be approved by the US Department of Transportation and the FAA.

“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,” continues Pflieger. “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.”