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RavnAir Group approved for July bankruptcy sale

ANCHORAGE, Alaska (AP) — A federal bankruptcy judge has approved a plan for an auction to sell Alaska’s RavnAir Group in whole or in part. The Alaska Journal of Commerce reported that the auction of the state’s largest rural air carrier is expected to be held after July 4 and before a July 9 court hearing. Ravn Air says about 30 bidders have expressed interest in buying all or some of the company’s assets. Five submitted bids to buy the entire air group. Without a successful bid, the bankruptcy plan calls for the company’s assets to be put into a trust and sold to satisfy creditors.

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