CFO, David Lancelot, commented, "We are fully supportive of a creditor support agreement that certain of our first lien lenders and second lien noteholders have entered into which is expected to result in approximately $60 million in new financing from a group of our noteholders. This financing will provide sufficient liquidity to fund ongoing operations in the ordinary course during our restructuring. We believe this agreement is indicative of broad support for a consensual restructuring which will ultimately provide greater liquidity by way of a delevered balance sheet. We believe that Erickson will emerge a financially stronger company at the conclusion of an expeditious bankruptcy process."The restructuring is expected to preserve jobs for more than 700 employees and allow Erickson to continue to work with the vendors and suppliers around the world that are so vital to its long term success. Erickson's economic impact in its home state of Oregon accounts for nearly $500 million annually, with 300 of the employees based in Oregon. Suppliers and other stakeholders can find additional information about Erickson's reorganization at www.ericksoninc.com. In addition, court filings and other information related to the restructuring proceedings are available at www.kccllc.net/erickson. Haynes and Boone LLP is serving as the Company's legal advisor, Alvarez & Marsal LLC as its restructuring advisor, and Imperial Capital as its investment banker. About Erickson Erickson is a leading global provider of aviation services and operates, maintains and manufactures utility aircraft to safely transport and place people and cargo around the world. The Company is self-reliant, multifaceted and operates in remote locations under challenging conditions specializing in Global Defense and Security, Manufacturing and MRO, and Commercial Services (comprised of firefighting, HVAC, power line, construction, timber harvesting, oil and gas and specialty lift). With roots dating back to 1960, Erickson operates a fleet of approximately 69 aircraft, is headquartered in Portland, Oregon, USA, and operates in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit our website at www.ericksoninc.com.
ContactSusan Bladholm—Media requests(971) 255-5023Zachary Cotner—Investor Relations(503) 505-5804, firstname.lastname@example.org