Alaska's Ravn Air Group has purchased the assets of Peninsula Airways and created a 'new' PenAir that is officially a member of Ravn Air Group. Earlier this month, the acquisition of PenAir's assets by investment affiliates of JF Lehman & Company was approved by the US Department of Transportation. PenAir's assets are now a subsidiary of Ravn Air Group complete. Both PenAir and Ravn Air are regional scheduled airlines that also perform business aviation charter.

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

PenAir will keep its current name and continue to operate as a separate company under its own FAA certificate.

“For Ravn team members, this acquisition marks the culmination of more than a year of hard work and effort that has resulted in a stronger, better company that is ready to expand,” Pflieger continues. “Likewise, we recognise and value PenAir's strong team, assets and rich history of serving Alaska and are eager to welcome its employees to the Ravn Air Group. We look forward to working together toward a shared goal of providing the best in safe travel throughout the great state of Alaska.”

PenAir's incoming president and COO Brian Whilden adds: “Joining forces with the Ravn Air Group will enable us to reach our full potential. Together, we will offer our customers a broader network, greater resources and more travel opportunities, all while maintaining the renowned customer service that PenAir passengers have appreciated for more than 60 years. We couldn't be more pleased to become part of the Ravn family."