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FLOAT Alaska is in post-confirmation implementation: the affiliated debtors' combined chapter 11 plan became effective on August 19, 2026, following the Court's approval of a replacement plan-sponsor transaction at the August 18 confirmation hearing Dkt. 494. The estate is no longer pursuing an operating-airline turnaround; its remaining work is to carry out the confirmed restructuring and administer the resulting estate assets and obligations. A general/status hearing is scheduled for August 25, followed by a claims-and-administration omnibus hearing on September 18. The debtors filed chapter 11 on January 26 after the collapse of their operating platform. The first-day declaration Dkt. 9 describes a sequence of setbacks: the closure of Russian airspace disrupted the planned transpacific strategy, the crypto downturn impaired FlyCoin, pilot attrition and route pressure weakened the Alaska business, and loss-making charter work compounded cash burn. A missed Private Jet Services payment then produced a payroll shortfall; operations ceased and 115 employees were laid off before the petitions were filed. The filing contemplated an orderly liquidation or going-concern sale under section 363 rather than a standalone operating reorganization. The case…
Updated Aug 21, 2026
The debtors want New NPA Holdings to replace Owners Jet as sponsor of the confirmed plan after the prior sponsor missed its funding deadline. The request is tied to an imminent FAA review of the operating certificate.
Sep 18, 2026
Claims & Administration · 2:00 PM ET · Hon. Craig T. Goldblatt · 7
HEARING CANCELLED. Notice of Agenda of Matters not going forward. The following hearing has been cancelled. Filed by Sherwood Partners, Inc.. Hearing scheduled for 8/25/2026 at 02:00 PM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. (Attachments: # (1) Certificate of Service) (Levin, Jason)
Docket 509 · Aug 21, 2026
Order Scheduling Omnibus Hearing Dates. (Related document(s)[507]) Omnibus Hearings scheduled for 9/18/2026 at 02:00 PM US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. Omnibus Hearings scheduled for 10/21/2026 at 02:00 PM US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. Signed on 8/21/2026. (NAB)
Docket 508 · Aug 21, 2026
Certification of Counsel Regarding Order Scheduling Omnibus Hearing Dates Filed by Sherwood Partners, Inc.. (Attachments: # (1) Exhibit A) (Levin, Jason)
Docket 507 · Aug 21, 2026
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