News Release

“New” PenAir officially joins Ravn Air Group

Ravn Air Group, Alaska's largest regional airline, today announced that it has purchased the assets of Peninsula Airways, Inc. and created a “new” PenAir that is officially a member of Ravn Air Group. Earlier this month, the acquisition of PenAir's assets by investment affiliates of J.F. Lehman & Company was approved by the U.S. Department of Transportation. Today, the remaining requirements needed to accomplish the sale were finalised, making the transfer of PenAir's assets into a new subsidiary of Ravn Air Group complete.

As part of Ravn Air Group, the “new” PenAir will ensure that the airline can continue to provide safe and reliable service while simultaneously creating better and more extensive travel opportunities for its customers.

“This is a big win for Ravn Air Group, as well as for PenAir and all of our team members, customers, and Alaska communities,” said Dave Pflieger, president and CEO of Ravn Air Group. “The two companies coming together provides an incredible opportunity to better connect Alaska, with the ability to provide broader, more reliable, and more consistent service.”

As a subsidiary of Ravn Air Group, PenAir will keep its current name and continue to operate as a separate company under a separate FAA certificate. With the completion of the transaction, PenAir will be a financially sound organization with a significantly enhanced ability to serve the state of Alaska.

“For Ravn team members, this acquisition marks the culmination of over a year of hard work and effort that has resulted in a stronger, better company that is ready to expand,” added Pflieger. “Likewise, we recognize and value PenAir's strong team, assets, and rich history of serving Alaska and are eager to welcome PenAir employees to the Ravn Air Group. We look forward to working together toward a shared goal of providing the best in safe travel throughout the great state of Alaska.”

“Joining forces with the Ravn Air Group will enable us to reach our full potential. Together, we will offer our customers a broader network, greater resources, and more travel opportunities – all while maintaining our renowned customer service that PenAir passengers have appreciated for more than sixty years. We couldn't be more pleased to become part of the Ravn family,” said Brian Whilden, PenAir's new president and COO.