The story
In 1980, Roy Morgan founded Air Methods after a personal experience convinced him that properly equipped and staffed air medical service helicopters were a necessity.
Air Methods purchased CJ Systems Aviation Group, a leading provider of aeromedical transport, in October 2007.
In 2011, Air Methods acquired Omniflight Helicopters, Inc., operating it as a wholly owned subsidiary. Omniflight Helicopters consisted of over 100 helicopters.
In July 2011, Air Methods (Air Methods International, Ltd.) entered into a joint venture agreement with Basari Holding, AS and Anka Aerospace & Defense, LLC to form Helistar, AS. The joint venture company is headquartered in Ankara, Turkey.
In October 2012, Air Methods opened its state-of-the-art technologically advanced training center in Aurora, Colorado. Located near the corporate office, the 14,000-square-foot facility has simulation areas, learning classrooms and office space. Also in 2012, the company diversified into helicopter tourism.
In 2016, Air Methods acquired Tri-State Care Flight.
In 2017, Air Methods was purchased by American Securities LLC.
In Apri 2023, Sundance Helicopters was acquired.
Read the full text
On October 24, 2023, Air Methods filed for Chapter 11 bankruptcy, blaming high interest rates and labor costs as part of its decision to file for bankruptcy. The company stated that it has plans to shed high amounts of debt, and that it would continue to operate normally during the bankruptcy process.
On December 28, 2023, Air Methods would emerge from Chapter 11 bankruptcy, successfully achieving its goal of eliminating around $1.7 billion of debt. The company stated that its assets were acquired by its lenders, releasing plans to inject $185 million into the company.
From Wikipedia’s article on Air Methods, shared under CC BY-SA 4.0.3