Voyager Aviation, Pimco-Owned Jet Lessor, Files Bankruptcy (1)

Aircraft leasing company Voyager Aviation Holdings filed for bankruptcy with plans to sell itself to Azorra Aviation Holdings, another firm that specializes in providing jets to airlines.

The deal could be worth as much as $743.5 million to the company, chief restructuring officer Robert A. Del Genio, said in a court filing. Voyager, whose dominant shareholder is bond giant Pacific Investment Management Co., has the right to scrap the deal if a higher offer comes in but would need to pay Azorra about $30 million, Genio said.

Voyager owes creditors more than $1 billion, according to its Chapter ...