PHI, Inc. Takes Action to Address Maturing Debt, Strengthen its Liquidity and Balance Sheet, and Position the Company for Long-Term Success
PHI (PHIIK)
US:NASDAQ Investor Relations:
phihelico.com/phi-general-info/investor-relations/earnings-and-reports
Company Research
Source: PR Newswire
LAFAYETTE, La., March 14, 2019 /PRNewswire/ -- PHI, Inc. (The Nasdaq Select Global Market: PHII (voting); PHIIK (non-voting)) ("PHI" or "the Company") today announced that PHI and its principal U.S. entities filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas to address the upcoming maturity of PHI's unsecured senior notes and strengthen its balance sheet in order to best position PHI for future success. All of PHI's businesses are operating in the ordinary course and are anticipated to continue to do so for the duration of the Chapter 11 process. In the view of both PHI's Board and management team, this is the best course of action to promote the Company's financial wellbeing, strengthen its competitive position in the industry, and advance the interests of PHI and its stakeholders, while maintaining the Company's commitments to its customers and, above all, the safety of its employees and passengers. With existing cash on hand an
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