Civil Helicopters News

MD Helicopters Files Chapter 11 Bankruptcy

MD Helicopters Files Chapter 11 Bankruptcy

MD Helicopters (MD) announced on March 30th, 2022, that it had filed for Chapter 11 Bankruptcy in Wilmington, Delaware.

Part of the bankruptcy process involves entering into a purchase agreement with a creditor consortium, which was led by Bardin Hill and MBIA Insurance.

The creditor consortium will assist with strengthening MD’s financial position by infusing $60 million of capital, as well as accelerating the sale of its assets.

“After a thorough review of the options available to us, we believe this transaction and court-supervised process will help achieve our objective and create the best path forward for MD and all our stakeholders,” states Alan Carr, Sole Director and Chairman of the Board of MD Helicopters.

MD will continue to be supported throughout the sales process and remains focused on serving customers and working with suppliers as usual.

According to Asian Sky Media’s 2021 Asia-Pacific Region Civil Helicopters Fleet Report, MD has a total of 214 helicopters in the Asia-Pacific region, with the MD500 being its most popular model.