Report: Air Methods Considering Bankruptcy | Aviation International News

Report: Air Methods Considering Bankruptcy

Would an Air Methods bankruptcy be a harbinger for medevac industry?

Air Methods EC135 (Photo: Air Methods) — After the passage of the No Surprises Act, Air Methods, which operates more than 400 air ambulances nationwide, began closing bases.

By Mark Huber • Contributor

October 20, 2023

Reports have surfaced in the last few days, including from Bloomberg, that air ambulance provider Air Methods is contemplating a structured Chapter 11 bankruptcy filing.

The move would cede control of the company to creditors that are owed $1.25 billion. The loans, with floating interest rates, come due next April. Another $500 million on 8 percent interest bonds is due in 2025. Rating agency Moody’s is grading that debt as Caa3, deep into the highly speculative or “junk” category.

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