Core Insights - The aviation industry increasingly favors leasing aircraft over ownership, with leased aircraft rising from approximately 10% in the 1970s to 58% by the end of 2023, as reported by IATA.org [2] - Franklin Flight Services, a company specializing in aircraft leasing, has filed for Chapter 11 bankruptcy due to untenable debt service requirements and operational challenges [3][6] Group 1: Company Overview - Franklin Flight Services operates in the global aviation finance sector, focusing on the acquisition, leasing, and management of commercial aircraft portfolios, with a significant asset portfolio valued in the billions [5] - The company does not disclose its client list and has maintained operations despite its bankruptcy filing [6] Group 2: Bankruptcy Details - Franklin Flight Services filed for voluntary Chapter 11 bankruptcy on January 6, 2026, in the U.S. Bankruptcy Court for the District of Delaware, with assets and liabilities both estimated between $100 million and $1 billion [7][9] - The company plans to pursue a dual-track process, seeking a potential Section 363 sale of its core FBO assets while negotiating a debt-for-equity swap with senior secured lenders [7]