Bankruptcy Law News

Bankrupt Alaskan Regional Airline to Tap $6 Million for Workers

April 7, 2020, 7:20 PM

Ravn Air Group Inc. was authorized to immediately tap into half of a $12 million bankruptcy loan as the Alaskan regional airline struggles to maximize the value of its assets and deliver crucial supplies to the state’s most remote population centers.

The airline operator can access up to $6 million in interim relief from a Chapter 11 financing package to pay the company’s employees, Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware ruled Tuesday.

The company sought swift relief after filing for bankruptcy April 5, citing a precipitous drop-off in revenues following the state’s...

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