PenAir Pilots Fortress of Solitude
01-25-2018, 12:11 AM
#501
Gets Weekends Off
Joined APC: Jan 2017
Position: Super Anti-Hero
Posts: 129
01-25-2018, 06:51 AM
#502
New Hire
Joined APC: Sep 2014
Posts: 1
All but official now.
County formally supports Sky West bid | Local News | pressrepublican.com
I've been watching this forum for a long time and as a former PenAir employee I hope the company can pull though for the sake of the great people who work there, but I believe this to be the final nail in the coffin. The Northeast EAS contracts are in my opinion what kept this company alive. PBG just kicked the crutch out from under a dying old man.
County formally supports Sky West bid | Local News | pressrepublican.com
I've been watching this forum for a long time and as a former PenAir employee I hope the company can pull though for the sake of the great people who work there, but I believe this to be the final nail in the coffin. The Northeast EAS contracts are in my opinion what kept this company alive. PBG just kicked the crutch out from under a dying old man.
02-12-2018, 11:23 AM
#508
Line Holder
Joined APC: Feb 2018
Posts: 60
How's the bankruptcy going?
I was offered a job by PenAir and was wondering how the bankruptcy was going and how much of an issue that was in choosing an airline. I've read this thread from start to finish and I'm not sure how much of it is hyperbole. I like the idea of being home every night, the pay raise for veterans, and the Alaska experience is apealing too. With all that in mind is it a dumb move to go to PenAir?
Thanks!
Thanks!
02-16-2018, 08:59 AM
#510
Gets Weekends Off
Joined APC: Mar 2009
Posts: 134
PenAir is running out of money
PenAir asks creditor for more money to keep operating - KTVA 11 - The Voice of Alaska
"A federal bankruptcy judge approved another $1 million to PenAir, increasing their loan to outside creditor Debello Investors, LLC from $3.5 million to $4.5 million.
In court, the airline's lawyer, Cabot Christianson, said PenAir doesn’t have enough money to get through the winter, saying March is its low point. Christianson also said that the added loan would get the airline company through the end of July.
PenAir declared Chapter 11 bankruptcy in August 2017. Chapter 11 allows the company time to reorganize before creditors can go after it. A few days later, the company shut down regional routes in Portland, Oregon and Denver.
The airline expanded its reach to the Lower 48 in 2011, but bankruptcy paper work says the new hubs did not live up to expectations. PenAir used a federal program called the Essential Air Service to subsidize those flights.
At the time, the company’s CEO, Danny Seybert, said the company would emerge from bankruptcy a stronger airline.
Bankruptcy paperwork shows PenAir owes between $10 to $50 million to its creditors."
"A federal bankruptcy judge approved another $1 million to PenAir, increasing their loan to outside creditor Debello Investors, LLC from $3.5 million to $4.5 million.
In court, the airline's lawyer, Cabot Christianson, said PenAir doesn’t have enough money to get through the winter, saying March is its low point. Christianson also said that the added loan would get the airline company through the end of July.
PenAir declared Chapter 11 bankruptcy in August 2017. Chapter 11 allows the company time to reorganize before creditors can go after it. A few days later, the company shut down regional routes in Portland, Oregon and Denver.
The airline expanded its reach to the Lower 48 in 2011, but bankruptcy paper work says the new hubs did not live up to expectations. PenAir used a federal program called the Essential Air Service to subsidize those flights.
At the time, the company’s CEO, Danny Seybert, said the company would emerge from bankruptcy a stronger airline.
Bankruptcy paperwork shows PenAir owes between $10 to $50 million to its creditors."
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