Judge approves Portland aviation firm’s bankruptcy plan

MEDFORD, Ore. (AP) - A struggling Portland aviation company is one step closer to emerging from bankruptcy.

The Mail Tribune reports (https://is.gd/AtXZMK ) that a U.S. Bankruptcy Court judge in Dallas on Tuesday confirmed Erickson Inc.’s reorganization plan less than five months after the company entered court protection in November.

Erickson president and CEO Jeff Roberts said Wednesday that the company now has a clear path out of bankruptcy.

When Ericson filed for Chapter 11 in November, it listed $561 million in debt. The company went public in 2012 and acquired Evergreen Helicopters and Air Amazonia in 2013, leaving the company with $355 million in debt just as the oil and gas market began to decline.

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Information from: Mail Tribune, https://www.mailtribune.com/