Cabin Interior and Electronics
Pats Restructured as Stand-alone Company

Completion and refurbishment specialist Pats Aircraft Systems, has executed the final steps in a restructuring agreement with its lenders that formally establishes the Georgetown, Del.-based center as “a fully capitalized, stand-alone company with a significantly reduced debt structure.”

As part of the restructuring, holders of Pats senior debt receive 100 percent of the available equity in exchange for reducing their debt amount. According to Pats, the move is “transparent to all business operations and will have no impact on trade creditors, suppliers, customers and employees.”