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AIR METHODS TO BEGIN DEBT AND LEASE RESTRUCTURING BY PAY-OFF OF MORE THAN $3 MILLION LONG TERM DEBT

    DENVER, Aug. 13 /PRNewswire/ -- Air Methods Corp. (NASDAQ-NMS: AIRM), the nation's largest exclusive provider of emergency air medical transportation systems and services, today confirmed that it has begun its debt restructuring activities, initiating the pay-off of more than $3 million of long-term debt.  Existing working capital is being utilized to fund this debt pay-down.
    This activity signals the company's initiation of the restructuring of its long term debt, capital lease obligations and operating leases. The company anticipates completing the restructuring of its senior secured aircraft debt, including all lease obligations, hopefully within the next 90 days.  The company anticipates that this initial pay-off of a portion of its long term debt, followed by the restructuring of its remaining debt, should result in the realization of significant interest expense savings.  The company anticipates continuing to pay-off long term debt on a prudent and opportunistic basis, complementing its over- all debt restructuring activities.
    Air Methods is the largest exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals throughout the United States.  Air Methods now serves 48 hospitals in 13 states under 20 dedicated long-term operating agreements.  The company utilizes only IFR-certified pilots and aircraft, including 30 helicopters and four airplanes, to perform these services.  In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
    -0-             08/13/93
    CONTACT:  W. Terrance Schreier or William H. Critchfield of Air Methods, 303-790-0587
    (AIRM) CO:  AIR METHODS CORP. IN:  AIR HEA SU:  RCN ST:  CO


-- DV001 -- X490 08/13/93
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Publication:PR Newswire
Date:Aug 13, 1993
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