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-10-22-18

Airborne Unmanned-10-23-18

Airborne Unlimited-10.24.18

Airborne Unlimited-10.18.18

Airborne Unlimited-10.19.18

Airborne-YouTube

Airborne Unlimited-10-22-18

Airborne Unmanned-10-23-18

Airborne Unlimited-10.24.18

Airborne Unlimited-10.18.18

Airborne Unlimited-10.19.18

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 10.22.18: Terrafugia Taking Orders, Pilot Vindicated, Airborne Staff

Also: Rocket Lab Selects Wallops, Corporate Angel Network, Airbus Helicopters, Air Force Funding International media reports have confirmed that deliveries of the Terrafugia &lsquo>[...]

Airborne 10.22.18: Terrafugia Taking Orders, Pilot Vindicated, Airborne Staff

Also: Rocket Lab Selects Wallops, Corporate Angel Network, Airbus Helicopters, Air Force Funding International media reports have confirmed that deliveries of the Terrafugia &lsquo>[...]

Aero-Help Wanted: ANN REALLY Needs A Sales Pro

ANN/Airborne/Aero-TV Marketing Department Needs Part or Full Time Personnel E-I-C Note: For some reason, finding really motivated/honest/professional sales help has been a tough gi>[...]

Expert Help Wanted: Could YOU Be The Next Face Of 'Airborne?'

Aviation's Longest Running Video News Program Is Seeking New Talent For Airborne Expansion ANN is on the hunt for next new face of our Airborne news program series... in order to a>[...]

AMA Drone Report 10.11.18: MultiGP/DRL Join Up, Hurricane Warning, EAA Support

Also: Airspace Authorization Expire?, MOSAIC Proposal, New LAANC Providers, FAA Targets UAS Violators The 2018 MultiGP Drone Racing Championship and 2019 DRL Swatch Tryouts eSports>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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