The sale of PenAir’s assets to the same company that owns Ravn Air Group has been approved. At a hearing today in Anchorage, Judge Gary Spraker approved J. F. Lehman & Company’s bid to buy Peninsula Airway’s assets for $12.3 million . The attorney for the trustee overseeing the sale said that the buyer confirmed the deal will likely take between one and three months to finalize.
PenAir is a regional air carrier that serves primarily Bristol Bay and the Aleutian-Pribilof region. It has been undergoing bankruptcy proceedings since August 2017.