The manufacturer and operator of the world renowned S-64 Air Crane fire attack helicopter, Erickson Incorporated, has voluntarily filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.
Following its acquisition of Evergreen Helicopters in March 2013 for US$298 million, which was financed partly with debt, and on top of the global downturn in the offshore helicopter industry, Erickson said a number of factors have contributed to the need for it to conduct a comprehensive restructuring of its seven subsidiary companies.
We have substant…
Read the full article at: http://australianaviation.com.au/2016/11/erickson-files-for-chapter-11-bankruptcy/