Helicopter operator Bristow has announced it will re-emerge from Chapter 11 bankruptcy this month after gaining approval for a restructuring plan.
The US-headquartered firm has received court approval for a scheme which will see £444million of new capital injected into the company by its lenders.
Bristow, which has a sizeable UK operation in the North Sea, said it expects to “successfully emerge from Chapter 11 by October 31, 2019”.
In May, the company filed for Chapter 11 bankruptcy to achieve a “more sustainable debt profile”.
The process lets firms continue trading while paying off debts, a method also taken by oilfield services firm Expro in December 2017.