Alaska air carrier RavnAir files for bankruptcy as U.S. Treasury mulls grants [Reuters]
Delta Air Lines, Inc. (DAL)
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Source: Reuters
Alaska air carrier RavnAir files for bankruptcy as U.S. Treasury mulls grants WASHINGTON, April 6 (Reuters) - RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy Sunday and grounded all of its 72 planes as it waits on a decision from U.S. Treasury for government assistance. The Trump administration is weighing applications from numerous airlines as it considers how to disburse $25 billion in passenger airline grants, $4 billion for cargo carriers and $3 billion for airport contractors. Congress approved the bailout funds to help air carriers cover payroll costs. RavnAir, which filed for Chapter 11 bankruptcy protection in Delaware, said Sunday it was suspending all operations and laying off all employees. “We took these actions to ensure our airline has a future, and to give us time to ‘hit pause’” while it seeks Treasury grants and “other sources of financial assistance that will allow us to weather the coronavirus pandemic and emerge successfully once it has
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