The United States Bankruptcy Court for the District of Delaware has approved the sale of "all, substantially all, or a substantial part" of RavnAir Group's assets, the Alaskan group said on its website.

"This Court decision helps clear the path for Ravn to find new ownership that will allow us to resume operations later this summer. This is great news for our creditors, our employees who have been temporarily laid off, our customers, our important fishing industry, and the 115 rural and urban communities we serve throughout the state who are currently suffering from a lack of service since we parked our seventy-two aircraft," President and Chief Executive Dave Pflieger said.

RavnAir Group, the owner of Corvus Airlines (7H, Anchorage Ted Stevens), Frontier Flying Service (FTA, Fairbanks Int'l), Hageland Aviation Services (H6, Saint Mary's), and PenAir (KS, Anchorage Ted Stevens), filed for Chapter 11 restructuring on April 5, 2020, and subsequently decided to liquidate and sell assets in early May. Afterwards, it was conditionally approved to receive federal payroll support, which it saw as an opportunity to lure investors. Alaska Seaplanes (J5, Juneau Int'l) has expressed interest in acquiring the AOC of PenAir.