Helicopter Company Backed by Soros, Dell Flies into Chapter 11

When an Irish helicopter company raised $375 million in 2013 from backers including funds controlled by George Soros and Michael Dell, the plan was to build up its leasing arm and tap demand for aircraft used in the oil and gas industry. Five years later, that plan failed to take off.

Waypoint Leasing Holdings Ltd. filed for Chapter 11 protection Sunday, citing a cyclical downturn in the oil and gas industry as a major factor in the company’s insolvency.

The company is the largest independent helicopter leasing company in the world, with operations on every continent except Antarctica. It holds ...