Alaska’s Ravn Air Group Inc., an airline with more than 70 planes, has filed for bankruptcy, saying its business has dried up and it has run out of cash in the wake of the novel coronavirus, WSJ Pro Bankruptcy reported. The Anchorage-based carrier said that it applied for aid last week under the roughly $2 trillion stimulus package recently approved by Congress, but it is unsure whether or when it will get the financing. Government assistance will be key to helping Ravn Air resume operations and rehire the roughly 1,300 employees it has laid off as a result of the pandemic-related business interruptions, the company said on Sunday in a filing in U.S. Bankruptcy Court in Wilmington, Del. Formal documents are being finalized, but the regional carrier expects existing lenders including French bank BNP Paribas SA to provide $12 million in financing to help it get through bankruptcy. The company hasn’t ruled out ultimately selling the business or liquidating it, court papers said.
