PenAir, one of Alaska's largest regional air carriers with hubs here and in three other states, has filed for chapter 11 protection, the Alaska Dispatch News reported today. In a statement Monday, the company said the bankruptcy proceedings will not affect scheduled flights in Alaska or Boston. The company's hubs in Portland, Oregon, and Denver would begin the process of closing over the next 90 days. The documents show PenAir reporting a $6 million net loss for the 12 months that ended in March. Among the unsecured creditors: The state of Alaska, which is owed more than $1.4 million by PenAir, according to court documents.
