UPDATE 1-Alaska's RavnAir bankruptcy while awaiting govt aid shows regional airlines' challenges [Reuters]
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Source: Reuters
Alaska's RavnAir bankruptcy while awaiting government aid shows regional airlines' challenges WASHINGTON/CHICAGO (Reuters) - RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy on Sunday and grounded all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash in the midst of an “astonishing” decline in bookings and revenue due to the coronavirus. Its Chapter 11 filing underscores the challenges facing other U.S. regional carriers that, like larger airlines, are seeking federal aid to help them through the worst downturn the industry has ever faced. RavnAir - which has a partnership with Alaska Airlines and interline agreements with American Airlines, United Airlines and Delta - said it applied on Friday for federal payroll support but did not know if or when it would be granted. The Trump administration is weighing applications from numerous airlines as it considers how to up to $32 billion for passenger and cargo ca
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