Air Methods Receives Court Restructuring Approval | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-10.28.24

Airborne-NextGen-10.29.24

Airborne-Unlimited-10.30.24

Airborne-Unlimited-10.24.24

Airborne-Unlimited-10.25.24

Mon, Dec 11, 2023

Air Methods Receives Court Restructuring Approval

AirMed Provider Sees Chapter 11 Exit by 2024

Air Methods Corporation, the self-styled "leading air medical service provider in the U.S.", announced court approval for the firm's restructuring plans.

The U.S. Bankruptcy Court for the Southern District of Texas confirmed the Company’s prepackaged Plan of Reorganization, which will supposedly be complete in no time at all. Air Methods even believes they will emerge from Chapter 11 "before the end of the year". The plan was unanimously approved by both voting classes, prepetition unsecured noteholders and secured lenders alike. The process is hoped to reduce Air Methods' total debt by almost $1.7 billion in all, and allow it sufficient health to survive the process with enough liquidity to support the company into the future. The company will be augmented by the investment of $185 million of new capitol.

“We look forward to moving ahead with a substantially stronger balance sheet and additional financial flexibility as we continue providing industry-leading air medical service to our healthcare partners, communities, customers and patients,” said Chief Executive Officer JaeLynn Williams. “With an optimal capital structure, Air Methods will be even better positioned to continue investing in our business and executing on our growth initiatives – including opening new greenfield bases, growing our frontline team and going in-network with additional commercial insurers – for the benefit of those we serve.”

“We appreciate the support of our key financial stakeholders, which has enabled us to reach this milestone on an expedited basis,” said Williams. “We also are grateful to our teammates for their unwavering commitment to safely delivering outstanding patient care, and we thank our partners for their ongoing support of Air Methods and our key role in the nation’s healthcare infrastructure.”

FMI: www.AirMethodsRestructuring.com

Advertisement

More News

Senator Pushes FAA to Accelerate Rocket Launch Licensing

States That Current Process is Damaging National Aerospace Development US Senator Jerry Morgan is pushing the FAA to speed up the process for rocket launch licensing. He argues tha>[...]

Classic Aero-TV: RJ Gritter - Part of Aviation’s Bright New Future

From 2015 (YouTube Edition): Model Aviator Aims For Full-Scale Career While at the 2015 Indoor Electric RC Festival, referred to as eFest, ANN CEO and Editor-In-Chief, Jim Campbell>[...]

Aero-FAQ: Dave Juwel's Aviation Marketing Stories -- ITBOA BNITBOB

Dave Juwel's Aviation Marketing Stories ITBOA BNITBOB ... what does that mean? It's not gibberish, it's a lengthy acronym for "In The Business Of Aviation ... But Not In The Busine>[...]

ANN's Daily Aero-Linx (10.27.24)

Aero Linx: Cardinal Flyers Online The Cardinal Flyers Online Web site was created and is maintained by me, Keith Peterson. My wife Debbie and I have owned a 1976 RG since 1985. Wit>[...]

ANN's Daily Aero-Term (10.27.24): Clearance Void If Not Off By (Time)

Clearance Void If Not Off By (Time) Used by ATC to advise an aircraft that the departure release is automatically canceled if takeoff is not made prior to a specified time. The exp>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC