No Surprises Here: ONE Aviation Files Chapter 11 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne Unlimited-12-10-18

Airborne Unmanned-12-11-18

Airborne Unlimited-12.12.18

AMA Drone Report-12.06.18

Airborne Unlimited-12.07.18

Airborne-YouTube

Airborne Unlimited-12-10-18

Airborne Unmanned-12-11-18

Airborne Unlimited-12.12.18

AMA Drone Report-12.06.18

Airborne Unlimited-12.07.18

Wed, Oct 10, 2018

No Surprises Here: ONE Aviation Files Chapter 11

Legal Filing Will Reportedly Allow For Reorganization Of Embattled Company

ONE Aviation Corporation (along with its subsidiaries Eclipse Aerospace and Kestrel Aircraft), have confirmed that the Company has entered into a consensual restructuring pursuant to the terms of a Restructuring Support Agreement with support from 100% of its voting first lien lenders.

As part of this process, the company has voluntarily filed for Chapter 11 bankruptcy while concurrently securing financing from its first position lender. This influx of capital combined with its normal operating cash flow, will reportedly allow ONE Aviation to maintain normal operations, minimize business disruption, and position the company for a successful future. The Board of Directors and management team believe that this plan and transition ensures the Company has the financial strength required to support the business for long-term success.

ONE Aviation will continue its development of the next generation of aircraft, including the EA700, while it also focuses on providing service, maintenance and upgrades to its existing fleet of aircraft, the EA500/EA550's.

"The path to this outcome has been long and difficult. The management team appreciates the generous support it has received from its employees, service providers, suppliers and customers throughout the process," said CEO Alan Klapmeier.

FMI: www.ONEaviation.aero

 


Advertisement

More News

Airborne 12.10.18: 'Pecos Bill' Accident, Astronaut Nick Hague, SpaceX Update

Also: Champion Aerospace Recall, EAA’s Post-Secondary Scholarships, Ryanair Pilot Training, Universal Avionics The NTSB has released its preliminary report from the accident >[...]

Airborne 12.07.18: Continental Power-Liaoning Cub, AirVenture, Lion Air v Boeing

Also: 64 Satellite 'Rideshare', Hurricane Hunters Finish Year, Cessna 208B SAIB, Aero-TV: Wright B Flyer Program Continental Motors Group has entered a strategic partnership with L>[...]

AMA Drone Report 12.06.18: No Drone Zone Nonsense, FAA's 'Buzzy', Airport Probs

Also: FAA Exec Appointment, Drone Use Standards, Censys BVLOS, Woolsey Fire Recovery Drones OK... it’s getting a little out of control... Signs have been popping up saying dr>[...]

ANN's Daily Aero-Term (12.10.18): Oceanic Airspace

Oceanic Airspace Airspace over the oceans of the world, considered international airspace, where oceanic separation and procedures per the International Civil Aviation Organization>[...]

ANN's Daily Aero-Linx (12.10.18)

Aero Linx: Vintage Ultralight Association What began as the Vintage Ultralight Registry has become the "Vintage Ultralight Association". After much research I can tell you that the>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC