Printer Friendly

Ryan's reorganization.

Ryan's Reorganization. On July 9, BankruptcY Judge Herbert Ross approved a reorganization plan allowing Ryan Air to continue its operations in Western Alaska. The plan also has been accepted and approved by both the Federal Deposit Insurance Corp. and the carrier's unsecured creditors. Unsecured debt is approximately $3.8 million. Ryan's financial woes escalated during a six-month voluntary shutdown following the carrier's Nov. 23, 1987, crash in Homer, which killed 18 people.

Employing 1 10 persons, down from 300 in 1987, the carrier now serves 50 villages through hubs in Unalakleet, Nome, Kotzebue, St. Mary's and Aniak. The family-owned airline is operated under the supervision of an appointed trustee. According to Robert Dodd, president and chief executive officer, the certified 401 carrier will not provide commuter airline service to Anchorage, as it did before. From 36 planes in 1987, Ryan has reduced its fleet to 12 planes.
COPYRIGHT 1990 Alaska Business Publishing Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1990 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Alaska Business Briefs; Ryan Air Service Inc.
Publication:Alaska Business Monthly
Date:Sep 1, 1990
Words:147
Previous Article:Northern nation cooperation blends East and West ideas, capital and technology.
Next Article:Freighters to Fairbanks.
Topics:


Related Articles
Olympus relocation reflects restored confidence in L.I.
AIR FORCE CHIEF HAILS EDWARDS AS `A JEWEL'; GENERAL PRAISES F-22 PROGRAM.
PLANT 42 GETS FUND RELIEF; AIR FORCE ERASES CUTS IN BUDGET.
RAIN LIKELY TO GREET TRAVELERS RETURNING TO L.A. THIS WEEKEND.
ALASKAN STORM WILL BRING COLD, WET WEATHER TO SOUTHLAND.
IN BRIEF.
Prudential reorganization expected to save $20 million. (Companies).
For the brave at heart: paragliding with Chugach Paragliding offers thrills, excitement and adventure to Alaskans and tourists.
Ohio recognizes congressman...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters