Hawker Beechcraft Loses $90 Million in May

In a hearing yesterday that lasted barely 10 minutes in U.S. Bankruptcy Court for the Southern District of New York, Hawker Beechcraft made an obligatory filing in compliance with Chapter 11 reporting requirements. As part of the report, HBC noted a $90 million loss for the month of May that included $33 million in operating…

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It’s an End of an Era as Hawker is Shut Down and the Start of a New One for the Brand-New Beechcraft Corp.

The development from bankruptcy of Hawker Beechcraft last week not only marked the start of the brand-new Beechcraft Corp., but it also indicated the end of the Hawker company jet line. Selecting to concentrate instead on its turboprop products, government contracts and aircraft service, the Wichita-based manufacturer has actually closed down all airplane manufacturing and…

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China’s Superior Aviation To Buy Hawker Beechcraft

Superior Aviation of Beijing, China, has agreed to acquire financially troubled Hawker Beechcraft for $1.79 billion. Under the terms of the “strategic combination,” Superior Aviation also agrees to make payments over the next six weeks of the “exclusivity period” to support ongoing jet-related operations as a means of sustaining the jet business until the transaction…

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Hawker Beechcraft Files for Chapter 11 Bankruptcy Protection

Hawker Beechcraft announced at 3:30 p.m. EDT today that it has reached an agreement with a “significant number” of its senior secured lenders and senior bondholders on the terms of a financial restructuring plan that will “strengthen the company for the future and eliminate approximately $2.5 billion in debt and approximately $125 million of annual…

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Court To Rule On Sale of Hawker 4000 Jets

A major hurdle facing Hawker Beechcraft in its effort to restructure and emerge from Chapter 11 bankruptcy is the sale of the Wichita OEM’s inventory of Hawker 4000s. The hearing date for the company’s request for court approval of the sale is now set for December 11, following a decision last week by judge Stuart…

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Hawker Beechcraft Gets Temporary Breather from Debt

Hawker Beechcraft secured more time to solve its debt problems through a restructuring plan, with lenders granting a 90-day forbearance agreement. The move staves off the immediate threat of a filing for Chapter 11 bankruptcy protection–a move that has been widely expected by industry analysts. The manufacturer, which is owned by Onex and GS Partners (a…

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Hawker Beechcraft Still Hasn’t Found Financial Footing

Hawker Beechcraft, which is in the process of restructuring under U.S. Chapter 11 bankruptcy protection, posted a $33.8 million net loss on sales totaling $149.9 million last month. In documents filed with the U.S. Bankruptcy Court in New York earlier this week, the company reported spending $1.5 million on restructuring costs, $5.4 million on reorganization…

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