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Bankrupt Ravn Air Plans to Liquidate After Loan Attempt Fails

April 28, 2020, 6:07 PM

Ravn Air Group Inc., Alaska’s largest regional air carrier and network, is proposing to wrap up its Chapter 11 bankruptcy case by establishing a trust that would liquidate its assets and pay creditors.

The airline believes that liquidating “is in the best interests of the debtors and their constituents” and will provide recoveries to general unsecured creditors and secured lenders, it said in plan disclosure papers filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The airline entered Chapter 11 after running out of cash in early April following a rapid decline in passenger revenue because of...

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