Waypoint Leasing furthers restructuring process with Chapter 11 filing

Ireland-based helicopter leasing company Waypoint Leasing Holdings Ltd. has announced that it, and certain of its subsidiaries, have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the Southern District of New York, the company said.

Waypoint expects to move through the restructuring process as expeditiously as possible and is committed to working with its lenders and all stakeholders towards a speedy and successful transformation. To this end, Waypoint has run a comprehensive sale process over the past months, has received bids from numerous parties, and expects to use the Chapter 11 process to facilitate the acquisition of Waypoint by a new owner with a continued focus on our customers.

Over the past six months, Waypoint has been actively working with its lenders to de-lever its balance sheet and reposition the Company for strength and stability.

Waypoint´s fleet is supported by over 40 employees based in eight offices worldwide. Waypoint´s aircraft diversity and customization capabilities have led to the lessor´s market-leading position across multiple mission segments including oil and gas, emergency medical services (EMS), government and humanitarian services, utility and firefighting, search and rescue (SAR) and wind farm support.

Weil, Gotshal & Manges LLP is serving as legal counsel, Houlihan Lokey is serving as investment banker, and FTI Consulting, Inc. and Seabury Corporate Services LLC are serving as restructuring advisors.

Waypoint is a global helicopter leasing company that provides operating lease and financing solutions to helicopter operators worldwide. Headquartered in Limerick, Ireland,