Erickson Incorporated (NASDAQ:EAC) (the “Company”), a leading global provider of aviation services, today announced that on December 1, 2016, less than thirty days after granting Erickson’s request to borrow $49 million under a debtor-in-possession term loan facility (the “DIP Term Facility”) on an interim basis, the
United States Bankruptcy Court for the Northern District of Texas granted Erickson’s request on a final basis.
Final approval of Erickson’s proposed financing results in Erickson having access to the full $60 million to provide sufficient liquidity to fund ongoing operations in the ordinary course of business and to maintain Erickson’s longstanding commitment to safety, compliance, and customer service.
“We are pleased with the additional investment from our lenders and the confidence they have displayed in Erickson by meeting our financing needs,” said President and CEO Jeff Roberts. “We will continue to work toward a final restructuring plan with the continued support of our customers and suppliers.”