Things aren't looking good for Ravn. This is part of a request for people to lobby the President from the CEO.

A key part of our needed funding is support from the U.S. Treasury’s CARES Act (Coronavirus Aid, Relief and Economic Security). Unfortunately, we received news this week that while eligible for payroll grant assistance, we will not be eligible for loans because the Treasury is using an Available Seat Mile (ASM) formula for loan allocations that does not enable smaller airlines to get material CARES Act assistance.

This flawed formula massively favors large well-capitalized airlines and leaves very little for small regional carriers like Ravn. It is not representative of the criticality of an airline to its state, its communities, and its citizens, and it would provide only $5.2 million of the $75 million we requested.

They've already got $91 million in debt and they want to borrow $12 million from the private sector along with $75 million from the government for a total of $178 million in debt for a company that in a good year has a total revenue of $200 million.

Here's the link to the rest of the post http://createsend.com/t/y-1B1051ACBED52BCC