Nordic Aviation's Ch. 11 Plan Approved With Huge Support

By Vince Sullivan (April 20, 2022, 5:47 PM EDT) -- A Virginia bankruptcy judge confirmed the Chapter 11 plan of aircraft lessor Nordic Aviation Capital on Wednesday, approving a restructuring that will wipe out more than $4 billion of debt through equity swaps and recapitalization transactions and has the support of 99% of the company's voting creditors.

U.S. Bankruptcy Judge Kevin R. Huennekens signed a confirmation order Wednesday, a day after Nordic Aviation appeared in court seeking approval of its plan, and the company said it hopes to emerge from bankruptcy by the end of May.

"With the court's approval of our plan today and a committed new investor group, we...

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