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SAN FRANCISCO, April 5 (Xinhua) -- U.S. Alaska-based RavnAir Group announced on Sunday that it will stop all operations and temporarily lay off all remaining staff due to the global COVID-19 pandemic.

RavnAir said in the statement that it has suffered an unprecedented loss of 90 percent of passenger revenue at all three of its airlines (RavnAir Alaska, PenAir, and RavnAir Connect) and has to park all its 72 aircraft until the company is in a position to cover the costs of rehiring, resuming flights and operating to the many communities it serves throughout the state.

The company is awaiting word on its Federal CARES Act grant applications and other sources of financial assistance that will allow it to get through the coronavirus crisis and successfully restart operations, according to the statement.

It has been in contact with the CEOs of other air carriers around the state since Thursday to help them establish new or replacement air service wherever possible, and it will continue those efforts during this uncertain period of time, the company said.