PenAir Files For Chapter 11 Bankruptcy
Amid the recent information about PenAir canceling flights to Denver and areas in the Pacific Northwest, they have now officially appeared in bankruptcy court.
According to a report, PenAir has filed for protection under Chapter 11 of the federal bankruptcy code.
According to a written statement by the company, this will not affect scheduled flights in Alaska or Boston.
PenAir offers service to and from Presque Isle and there has been no statement that these services will cease from the Northern Maine Regional Airport.
Chapter 11 gives the company protection from creditors, which will allow the company to reorganize their finances and let them restructure their operations.