Hawker Beechcraft yesterday 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 U.S. manufacturer announced it had “reached an agreement with certain lenders that will provide the company with approximately $120 million of additional liquidity.”
More Stories from ABACE 2012
March 28, 2012, 5:52 AM
With one more day to run, ABACE organizers and exhibitors agree that the reborn show has been a great success that has put Asian business aviation firmly on the international air show calendar. This year’s event fulfilled all of its objectives, according to NBAA president Ed Bolen, who pointed to its ability to bring buyers and sellers together.
March 28, 2012, 5:32 AM
Bradley Pacific Aviation has opened a new FBO at Kona International Airport in Hawaii.
March 28, 2012, 5:23 AM
Shanghai Hawker Pacific (SHP) general manager Carey Matthews, and deputy general manager Dr. George Lu, signed a preliminary service center agreement here yesterday at the ABACE show with Cessna president and CEO Scott Ernest.
March 28, 2012, 5:13 AM
It is testament to how seriously the China market takes its fledgling general-aviation industry that key players from the China Aircraft Owners and Pilots Association (AOPA) took to the stage for one of the conference sessions here at the ABACE
March 28, 2012, 4:30 AM
Avion Pacific and Hawker Beechcraft sealed a $50 million deal yesterday for 10 Beechcraft King Air twin-turboprops.
March 28, 2012, 4:30 AM
The exhibit hall at ABACE 2012 was bustling with potential buyers eyeing new opportunities in this region.
March 28, 2012, 4:14 AM
Helicopter operators in China face the same regulatory and infrastructure impediments that their fixed-wing counterparts do. To learn more about how helicopters can be better accommodated in the Asian country, AIN sat down with Helicopter Association International president Matt Zuccaro at ABACE 2012.
March 28, 2012, 3:40 AM
The Jet Business is here at ABACE 2012 looking for a second venue to capitalize on the success of its novel private jet “showroom” in London’s exclusive Knightsbridge district.
March 28, 2012, 3:30 AM
Steve Forbes was the keynote speaker at Wednesday night’s ABACE gala dinner held at the Hongqiao Hilton hotel. The U.S. businessman, who is chairman of the Forbes Media group, is a passionate advocate for business aviation.
March 28, 2012, 3:20 AM
Commercial aviation is the biggest impediment to business aviation’s growth in Asia, according to Tay Tiang Guan, deputy director general of the Civil Aviation Authority of Singapore (CAAS). Speaking at the ABACE show conference session yesterday, Tay admitted that the rapid growth of the commercial aviation sector is taking the lion’s share of regulators’ attention and dominating airspace.
March 28, 2012, 3:10 AM
China is facing a chronic shortage of pilots to fly its growing fleet of business aircraft.
March 28, 2012, 3:00 AM
Hong Kong-based Metrojet (ABACE Booth H326) announced that it expects the U.S. Federal Aviation Administration to grant it approval in April to maintain Embraer Lineage 1000 and Legacy 600/650 jets.
March 28, 2012, 2:55 AM
TAG Aviation Asia (ABACE Booth H102) said company officials are still in discussions with Chinese charter operator Lily Jet over a partnership that would enable the two companies to benefit from their respective air operator certificates.
March 28, 2012, 2:50 AM
Last year’s announcement of schemes aimed at opening some lower-altitude airspace (LAA) in China offered a glimmer of hope to the rotary-wing sector that it would soon be easier to operate helicopters in the country. However, there is still some way to go before the industry can grow much further, as officials grapple with how to manage airspace once the experiments finish.
March 28, 2012, 2:45 AM
Aerochine Aviation (Booth P702), the independent representative for Bell Helicopter in China, Hong Kong and Macau since 2009, reports that last year was a banner one for the company’s sales in China.
March 28, 2012, 2:35 AM
When it comes time to equip a business jet with satellite communications equipment, the choices can be confusing. A company like service provider Satcom1, however, offers simple solutions that clarify the choices.
March 28, 2012, 2:30 AM
The medevac unit of Abu Dhabi’s Royal Jet evacuated 31 Chinese workers injured in explosions in the Republic of Congo on March 10, tra
March 28, 2012, 2:25 AM
The largest barriers to growth of business aviation in the Asia Pacific region are “infrastructure, infrastructure and infrastructure,” General Aviation Manufacturers Association
March 28, 2012, 2:15 AM
Charter broker Chapman Freeborn (Booth H508) is no stranger to China, having established a sales and marketing office in Beijing in 2004. Now the UK-based company has opened an office in Shanghai and here at ABACE is touting the business aviation side of its charter services.
