Will A New Carrier Emerge From The Final Auction Of The New Pacific Airlines Boeing 757 Fleet?

FLOAT Alaska LLC has officially triggered the final phase of its Chapter 11 liquidation, setting the stage for a high-stakes auction that could see the remnants of New Pacific Airlines, including its prized operating certificate, pass to a new owner. Following the total cessation of operations in late 2025, the parent company of the defunct carrier has appointed aviation asset management firm Sage-Popovich to oversee the sale of its remaining Boeing 757-200 aircraft and essential infrastructure.

The auction, scheduled for March 18, 2026, represents the closing chapter of an ambitious but ill-fated venture that once sought to transform Anchorage into a "Pacific Icelandair." Geopolitical shifts, most notably the closure of Russian airspace, and a persistent pilot shortage ultimately grounded the airline’s transpacific dreams, leading to a $90 million debt mountain that the bankruptcy court now seeks to settle.

The Auction Block

The centerpiece of the sale includes three Boeing 757-200 airframes currently stored at the Mojave Air and Space Port (MHV) in California. While the narrow-body jets are aging, their "middle-of-the-market" range remains a valuable asset for niche charter or cargo operations. However, the true "crown jewel" for potential bidders is the FAA Part 121 Air Carrier Certificate.

By acquiring the certificate, a buyer could theoretically bypass years of regulatory red tape and launch a new scheduled airline almost immediately. As detailed by the remarketing agents at Sage-Popovich:

“The aircraft, along with the airline’s operating certificate, will be sold at an auction on 18 March as the liquidation process of the company’s remaining assets concludes.”

The fleet inventory being offered includes:

• N627NP (MSN 27808): Complete with Rolls-Royce RB211-535E4 engines.
• N628NP (MSN 27809): Complete with Rolls-Royce RB211-535E4 engines.
• N629NP (MSN 27810): Airframe only (cannibalized for parts to support sister ships).

Strict Deadlines for Global Bidders

Competition for the assets is expected to be tight, particularly among startup carriers looking for a "plug-and-play" entry into the U.S. market. Potential bidders have been given a remarkably narrow window to participate. According to official bankruptcy filings and remarketer updates:

“Any parties interested in participating in the auction process have until 16 March to qualify as a bidder for any of the assets, once a confidential agreement has been signed.”

The liquidation follows the internal announcement made on November 26, 2025, when President Thomas Hsieh informed the remaining 115 employees that "the airline would be ceasing operations that day." The subsequent Chapter 11 filing in January 2026 confirmed that the airline had pivoted unsuccessfully through several business models, from international long-haul to domestic leisure routes and, finally, to professional sports charters.

Status of Air Operations

Since New Pacific Airlines officially ceased all flight operations on November 26, 2025, there are no "new" air operations to report. The following table illustrates the Final Commercial Operations that were historically serviced by the 757 fleet now heading to the auction block, highlighting the routes a future buyer might seek to reactivate using the Part 121 certificate.

The Legacy of Northern Pacific

The failure of FLOAT Alaska also marks the end of FlyCoin, the ambitious blockchain-based loyalty platform that issued cryptocurrency tokens instead of traditional miles. At its height, the company raised $33 million in seed funding, with $28 million lent to the airline to support its transpacific launch—a strategy that eventually evaporated when the war in Ukraine forced the closure of the "Great Circle" routes through Russian airspace.

With the March 18 auction approaching, the aviation industry remains divided on whether the New Pacific brand will disappear entirely or if its assets will fuel the next disruptive player in American aviation.