In 2017 Pen Air, a 121 Carrier Operation in Alaska. Filed for Chaper 11. Owned and Operated by the Orin Seybert since 1955. He (Seybert being 19) with his T-Craft began flying around the Bristol Bay region in 1967, Peninsula Airways became a full-time subcontractor to Reeve Aleutian Airways, In 1969, Peninsula Airways acquired all assets of Tibbetts-Herre Airmotive, which was operating in NakNek, Alaska. By 1973, regular service was provided between King Salmon and the Pribilof Island communities.
PenAir Operated aircraft ranging from the Grumman Goose (which it’s last schedule flight was in 2012) to their latest Saab 2000. With the purchase of the 2000 they expanded operations with in the lower 48 operating to smaller communities in the PNW, Mid West and Maine.
PenAir currently owes between 15 - 50 million dollars to the bank. With the Chapter 11 PenAir returned several Saab 2000s and 340s along with selling it’s A models to Ryan Air.
Misty Roberts, Vice President of sales and marketing. described that PenAir has been operating in Alaska for 60 years and that “there is a lot of interest” in purchasing the company. Alaska Airlines and Connecticut-based hedge fund sponsor Wexford Capital are listed as “approved bidders” in filing documents - meaning they are looking at the company’s finances, and have submitted evidence to the trustee of their financial capabilities to buy some or all of PenAir’s assets.
The judge will approve the bid procedures in late August. Oct. 3 has been earmarked as the auction date, with Oct. 5 submitted as the sale date.
Disclaimer: I worked for WhenAi… I mean PenAir for a year before attending school.