Aircraft Lessor AeroCentury Files Bankruptcy Amid Travel Decline

Aircraft leasing company AeroCentury Corp. filed for Chapter 11 bankruptcy protection in Delaware, citing the dramatic decrease in air travel during the coronavirus pandemic.

The company, which buys used regional aircraft and leases them to domestic and foreign carriers, joins a long list of businesses felled by disruptions related to Covid-19 over the past year. AeroCentury, which will seek to sell aircraft assets during the court restructuring, will continue to operate in bankruptcy.

“Due to the Covid-19 pandemic, the aircraft industry as a whole has experienced a substantial and sustained decrease in air travel,” AeroCentury’s Chief Financial Officer Harold Lyons ...