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Alaska warned U.S. government its largest regional airline was on verge of collapse: letter
Source: Reuters
BUSINESS NEWS APRIL 6, 2020 / 11:55 AM / UPDATED 3 HOURS AGO
Alaska warned U.S. government its largest regional airline was on verge of collapse: letter
David Shepardson, Tracy Rucinski
4 MIN READ
WASHINGTON/CHICAGO (Reuters) - Alaska’s congressional delegation warned U.S. Treasury Secretary Steven Mnuchin last week that many of its airlines, including its largest regional carrier, RavnAir Group, were on the verge of collapse, according to a letter seen by Reuters.
“Without badly needed federal support, many of our air carriers are in danger of bankruptcy and failure and could leave many of our rural and Alaska Native communities completely isolated,” U.S. Senators Lisa Murkowski and Dan Sullivan and Representative Don Young said in the Friday letter.
The Treasury Department had no immediate comment.
RavnAir filed for Chapter 11 bankruptcy on Sunday, laying off nearly its entire staff and grounding all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash.
-snip-
Alaska is more dependent on passenger and air cargo transport than any other state in the country because over 80% of the communities are only accessible by air.
-snip-
Alaska warned U.S. government its largest regional airline was on verge of collapse: letter
David Shepardson, Tracy Rucinski
4 MIN READ
WASHINGTON/CHICAGO (Reuters) - Alaska’s congressional delegation warned U.S. Treasury Secretary Steven Mnuchin last week that many of its airlines, including its largest regional carrier, RavnAir Group, were on the verge of collapse, according to a letter seen by Reuters.
“Without badly needed federal support, many of our air carriers are in danger of bankruptcy and failure and could leave many of our rural and Alaska Native communities completely isolated,” U.S. Senators Lisa Murkowski and Dan Sullivan and Representative Don Young said in the Friday letter.
The Treasury Department had no immediate comment.
RavnAir filed for Chapter 11 bankruptcy on Sunday, laying off nearly its entire staff and grounding all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash.
-snip-
Alaska is more dependent on passenger and air cargo transport than any other state in the country because over 80% of the communities are only accessible by air.
-snip-
Read more: https://www.reuters.com/article/us-health-coronavirus-usa-airlines/alaska-warned-u-s-government-its-largest-regional-airline-was-on-verge-of-collapse-letter-idUSKBN21O24G
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