New Pacific Airlines' Boeing 757 Fleet Up for Auction

Bankruptcy liquidation could see airline's operating certificate acquired by a new carrier

Published on Mar. 10, 2026

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FLOAT Alaska LLC, the parent company of the defunct New Pacific Airlines, has triggered the final phase of its Chapter 11 bankruptcy proceedings. This includes a high-stakes auction on March 18, 2026, where the airline's remaining Boeing 757-200 aircraft and its valuable FAA Part 121 Air Carrier Certificate will be sold to the highest bidder. The auction represents the closing chapter of New Pacific's ambitious but ill-fated venture to transform Anchorage into a "Pacific Icelandair," with the carrier ultimately grounded by geopolitical shifts and a pilot shortage.

Why it matters

The sale of New Pacific's assets, including its operating certificate, could allow a new carrier to quickly enter the U.S. market and potentially revive some of the defunct airline's former routes. However, the auction also marks the end of the FlyCoin blockchain-based loyalty program that was closely tied to New Pacific's operations.

The details

The auction lot includes three Boeing 757-200 airframes currently stored in Mojave, California, as well as New Pacific's FAA Part 121 Air Carrier Certificate. Potential bidders have until March 16 to qualify, with the assets set to be sold to the highest bidder on March 18. The certificate in particular is seen as a "crown jewel" for startups looking to bypass years of regulatory red tape and launch a new scheduled airline.

  • FLOAT Alaska LLC triggered the final phase of its Chapter 11 liquidation in early 2026.
  • The auction of New Pacific's assets is scheduled for March 18, 2026.
  • Potential bidders have until March 16, 2026 to qualify for the auction.

The players

FLOAT Alaska LLC

The parent company of the defunct New Pacific Airlines that has initiated the bankruptcy liquidation process.

Sage-Popovich

An aviation asset management firm appointed to oversee the sale of New Pacific's remaining assets.

Thomas Hsieh

The former president of New Pacific Airlines who announced the airline's cessation of operations in November 2025.

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What they’re saying

“the airline would be ceasing operations that day.”

— Thomas Hsieh, President (New Pacific Airlines)

What’s next

The judge overseeing the bankruptcy proceedings will determine the outcome of the March 18 auction, which could see a new carrier emerge from the ashes of New Pacific Airlines.

The takeaway

The sale of New Pacific's assets, including its valuable operating certificate, represents both the end of an ambitious but ill-fated airline venture and a potential opportunity for a new carrier to quickly enter the U.S. market and revive some of the defunct airline's former routes.