Top Air Ambulance Firm to Seek Creditor Vote on Bankruptcy Plan

Helicopter ambulance company Air Methods Corp. won court permission to solicit votes from creditors for a plan to cut debt and exit bankruptcy in the coming months.

Should enough creditors vote for the proposal, which slashes $1.7 billion in debt, the company would return to court in December to seek final approval of the plan from US Bankruptcy Judge Marvin Isgur.

Air Methods bills itself as the leading air medical-transport company in the US, with 390 helicopters and airplanes flying more than 100,000 people a year to hospitals. Earlier this week, the company filed for bankruptcy in Houston, blaming ...