Nordic Aviation Capital Files Bankruptcy to Overhaul Debt (1)

One of the world’s largest aircraft leasing company filed for Chapter 11 as it seeks to restructure its finances for the second time since the beginning of the pandemic.

Denmark-based Nordic Aviation Capital A/S sought bankruptcy protection to overhaul about $6 billion of debt. On Sept. 24, the company reached an agreement in principle with creditors to fix its balance sheet.

The company listed both assets and debt of between $1 billion and $10 billion, according to court papers filed in U.S. Bankruptcy Court in Richmond, Virginia.

The restructuring framework includes the conversion of “a substantial amount of the group’s ...