Waypoint Leasing Holdings – Cancels Auction for Helicopter Fleet, $650mn Stalking Horse Bid from Macquarie Stands

January 7, 2019 – The Debtors notified [Docket No. 216] the Court hearing the Waypoint Leasing case that pursuant to procedures established in the Court’s bidding procedures order (specifically the lack of further qualifying bids) [Docket No. 159], the auction scheduled for January 8, 2019 had been cancelled.  The notice further notes that the only bid received was that of stalking horse Macquarie.

As previously reported in the motion seeking approval of the bidding procedures [Docket No. 64], “Pursuant to the Macquarie APA, Macquarie is purchasing substantially all of the Debtors’ assets. After conducting significant due diligence and consulting with the Debtors’ management, Macquarie has opted to purchase the Debtors’ core and non-core aircraft (approximately one-hundred and sixty (160) aircraft) and to assume certain executory contracts, unexpired leases, and related liabilities in connection therewith. The base purchase price is $650,000,000, plus the assumption of certain liabilities, subject to certain adjustments.