Nordic Aviation Capital exits Chapter 11 restructuring process

Nordic Aviation Capital announced (01-Jun-2022) its exit from Chapter 11 restructuring proceedings, having received confirmation of its restructuring plan from the bankruptcy court on 19-Apr-2022. As previously reported by CAPA, the plan includes the infusion of approximately USD537 million in capital to fund operations and growth opportunities and the elimination of nearly USD4.1 billion of debt. The plan also includes the appointment of a new board of directors, led by chairman Klaus Heinemann and president and CEO Norman C T Liu. [more - original PR]