Ravn/Corvus info?

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03-24-2020, 03:40 PM

#41

Grizzly Adams

On Reserve

Joined APC: Oct 2019

Posts: 13

70 pilots across all 3 certs were furloughed yesterday. Enjoy your Corona!

03-31-2020, 05:07 PM

#42

flightview

Gets Weekends Off

Joined APC: May 2016

Posts: 194

Any news/updates here?

04-02-2020, 01:55 PM

#43

alaskadrifter

Gets Weekends Off

Joined APC: Sep 2007

Posts: 351

All Penair and Hageland pilots were laid off and planes parked, and all but three Dash 8s were parked.
https://www.adn.com/alaska-news/avia...a-communities/

04-03-2020, 09:38 AM

#44

TXWarEagle

Line Holder

Joined APC: Apr 2018

Posts: 37

Also cut the minimum guaranteed hours for the RavnAir Dash-8 pilots is down from 70 to 60 hours.

04-03-2020, 12:57 PM

#45

James2016

Line Holder

Joined APC: Sep 2016

Posts: 27

I dont see them coming out of this they paid just shy of 14 million for the PenAir Certificate and look how far they got. Plieger and his gang has run another airline into the ground.

04-04-2020, 07:08 AM

#46

TXWarEagle

Line Holder

Joined APC: Apr 2018

Posts: 37

Quote:

Originally Posted by James2016

I dont see them coming out of this they paid just shy of 14 million for the PenAir Certificate and look how far they got. Plieger and his gang has run another airline into the ground.

$12.3 million.
https://www.ktuu.com/content/news/Ra...495105811.html

04-05-2020, 05:43 PM

#47

alaskadrifter

Gets Weekends Off

Joined APC: Sep 2007

Posts: 351

Well Ravn is completely shutdown and filing for Ch 11.
https://www.adn.com/alaska-news/2020...e-to-covid-19/

04-06-2020, 12:26 PM

#48

AK Bus Driver

New Hire

Joined APC: Aug 2017

Posts: 4

I bet they will file CH 7 by the end of the week. This sucks.

04-07-2020, 05:14 AM

#49

James2016

Line Holder

Joined APC: Sep 2016

Posts: 27

In the bankruptcy filing they did they listed 91 million dollars in debt its going to be a chapter 7 JF Lehman was not able to line up any funding its the end of the Dave Plieger regime.

04-08-2020, 06:55 AM

#50

TXWarEagle

Line Holder

Joined APC: Apr 2018

Posts: 37

Here is a link to the Ravn CFO's filing for the chapter 11.CFO Filing

Couple of observations from this filing.

No surprise that with a loss of passenger revenue, which was 53% of their revenue, Ravn ran out of cash.

Their plan appears to be to put off debtors until they get an answer on their CARE filing. If that comes through they have lineup an additional $12 million in financing that will let them reopen.

As part of this filing even if they reopen they will be able to break the leases on all the remaining Saab 2000 and the one leased DHC-8. Bad news for all the Saab crews that were laid off on March 23.