JFLCO-backed Ravn Air Group acquires Peninsula Airways assets

J.F. Lehman & Company-backed Ravn Air Group, Inc. has announced it has acquired the assets of Peninsula Airways, Inc. (PenAir), the company said.

Headquartered in Anchorage, Alaska, PenAir is a regional Part 121 airline operating passenger, freight, and charter flights to seven destinations in Southwest Alaska and the Aleutian and Pribilof Islands. JFLCO and Ravn were the prevailing bidders in a Section 363 bankruptcy auction for the assets of the company.

Ravn is a leading provider of regional air transportation and logistics services in Alaska. Headquartered in Anchorage and supported by over 1,000 employees, Ravn utilizes its fleet of almost 70 aircraft to provide passenger, freight, and charter air transportation services to over 115 destinations throughout Alaska.

BlankRome and Keller & Benvenutti provided legal counsel to Ravn and JFLCO.

J.F. Lehman & Company, Inc. is a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors.