Avenger Flight Group Emerges from Chapter 11 as AFG Newco, LLC, Positioned for Next Phase of Growth

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Avenger Flight Group (“Avenger” or the “Company”), a leading global provider of advanced flight simulation training solutions for commercial airlines, today announced that it has successfully completed its restructuring process and emerged from Chapter 11, which it and certain affiliates commenced in February 2026 to implement a comprehensive restructuring and sale process, as AFG Newco, LLC , a well-capitalized platform positioned to execute on its next phase of growth and expansion and continue to do business as Avenger Flight Group.

The transaction follows a court-supervised sale process supported by the Company’s secured lenders and conducted under Section 363 of the U.S. Bankruptcy Code and approved by the U.S. Bankruptcy Court for the District of Delaware.

The sale resulted in the transfer of substantially all of the Company’s assets to AFG Newco, LLC, enabling the business to continue operations on a strengthened financial foundation. The Company’s existing lenders supported the process and are now equity stakeholders aligned in supporting Avenger Flight Group’s long-term strategy and growth initiatives.

In connection with its emergence, Avenger closed on an exit financing facility providing the Company with a capital structure to support ongoing operations and future growth.

A Stronger Foundation for the Future

Through the restructuring, Avenger emerges with:

• A materially deleveraged capital structure
• New financing providing enhanced capital structure and financial flexibility
• A focused operational footprint aligned with customer demand
• Continuity of operations across its global training network
• Positioned to scale capacity in response to accelerating global pilot demand

“Today marks an important milestone for Avenger Flight Group,” said Eduardo Carrasco. “With a strengthened balance sheet, and the support of our ownership group, Avenger is well-positioned to continue serving airline customers worldwide while investing in expanded training capacity to meet the growing global demand for pilot training.”

Continuity for Customers and Employees

Avenger will continue to operate the Company’s global flight simulator training platforms, providing critical training services to airline partners across North America, Latin America, and Europe. Throughout the restructuring process, the Company maintained uninterrupted operations.

“Our priority throughout this process has been—and remains—our customers and partners,” said Eduardo Carrasco. “We are proud to emerge as a stronger company, with access to capital and a platform that supports long-term stability and growth.”

About New Avenger

Avenger is a global provider of aviation training solutions, specializing in full-flight simulator training and advanced pilot instruction for commercial airlines. The Company operates a network of training centers and simulator platforms supporting airline clients worldwide.