Ellie Kemp
An airline boss has spoken out after his company was shut with immediate effect.
The US airline had been running for 64 years, but has ceased operations as of Monday (November 3).
Kenai Aviation served Alaska, with flights across Anchorage, Kenai and Homer in Southcentral, Unalakleet in Western and Fairbanks in Interior.
Aviation boss Joel Caldwell addressed the sudden closure and consequent flight cancelations in a statement shared to social media.
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He cited 'financial insolvency' among the reasons for the shutdown.
This is when a company cannot pay their debts, or their total liabilities are greater than their total assets.
Caldwell bought out Kenai Aviation in 2017 from founder Jim Bielefeld, saving it from shutdown then.
"Then the COVID happened... For me, and for Kenai Aviation, the COVID gave us a debt load that we haven't been able to get back on top of," Caldwell explained in part.
"Carrying that burden increased the effects of every obstacle that we’ve had to navigate. When our plane was grounded for maintenance and not being able to serve Unalakleet this summer not only hurt a community that I love, it hurt us financially too.
"The King Air is back up and running, our flights to Anchorage are full - But today, the bank is calling that debt. We have to cease all operations immediately. I am devastated."
He added: "Our operations may stop, but this vision continues."
Caldwell said he 'refuses to give up', adding that the company needs capital, partners and a 'lifeline'.
"That investor is out there, we just need to find them. One promise that you can hold me to, is that, if at all possible, I will find that life line," he concluded.
Kenai Aviation's connection between Kenai and Anchorage was one of its most popular routes.
The business also provided on-demand charter flights, bush-flying style, to remote Alaskan locations.
Customers with upcoming reservations from Kenai Aviation have begun receiving notifications about cancellations, reports SSBCrack News.
The closure comes months after another Alaskan carrier, Ravn Alaska, shut down.
Kenai Aviation was founded in 1959 by Bielefeld to serve the Cook Inlet energy industry in Southcentral Alaska.
Experienced pilot Caldwell and his son, Jacob, acquired the company in 2018.
Caldwell had flown in rural Alaska and internationally before purchasing Kenai Aviation.
Under his leadership, the company aimed to expand its scheduled service and to serve both locals and tourists.