Hawker Beechcraft announced at 3:30 p.m. EST 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 cash interest expense.” To move this process forward, the Wichita-based OEM and certain of its subsidiaries today filed voluntary petitions under the Chapter 11 bankruptcy code.
AINalerts » May 3, 2012
Hawker Beechcraft’s 400XPR made its first flight this morning, powered by freshly installed Williams International FJ44-4A-32 engines. The modification work was done by Sierra Industries of Uvalde, Texas.
The Embraer Legacy 500 development program has recently achieved “several significant milestones” as the fly-by-wire midsize business jet gears up for its first flight in the third quarter, the Brazilian aircraft manufacturer said today. Milestones include taxi runs and the beginning of ground vibration tests on the first Legacy prototype, as well as developments in the second and third prototypes. Concurrently, the joint definition phase has started for its smaller sibling, the Legacy 450.
Russian deputy prime minister Vladislav Surkov, whose responsibilities in the government include supervision of the country’s Glonass satellite-based navigation system, aims to require that all aircraft–even foreign-registered ones–flying in Russian airspace use the Glonass satellite-based navigation system. He was speaking at the Glonass Forum 2012, held in Moscow late last month.
Moving on from the February dissolution of its licensing agreement with BP for use of the Air BP name, fuel distributor Epic Aviation expects to complete the rebranding of the former Air BP network of FBOs in the U.S. and Canada to its own Epic Aviation brand this summer.
The Oregon-based company’s recent alliance with flight-planning provider Universal Weather & Aviation will soon bear fruit. Next month, Epic will roll out a premier brand among its 300-plus affiliate FBOs known as the UV Air FBO Network, which will debut at more than 20 major gateway airports.
In the first quarter, French aircraft manufacturer Dassault delivered 15 Falcons, versus nine a year ago. Dassault Falcon’s revenues thus increased by 66 percent year-over-year, to €644 million ($837 million). The company reported net orders for 10 Falcons, with no cancellations, in the quarter, down from 11 in the same period last year. By value, these orders represented €450 million ($585 million), a 29-percent increase.
Russian Helicopters is redeveloping the Kazan Ansat light twin with conventional flight controls, as opposed to the fly-by-wire (FBW) system with which it has been flying thus far. Kazan Helicopters has performed the first demonstration flight with a hydro-mechanical flight control system.
The testing program, which involves two prototypes for flight and ground tests, started last year. The manufacturer has filed an application with the Interstate Aviation Committee’s Air Registry for additional type certification, which it expects to achieve in the second half of this year.
Max-Viz said an STC approval for its EVS-1500 enhanced vision system in Hawker business jets is close at hand. According to the avionics company, Hawker Beechcraft Global Customer Support’s program for installation of the EVS-1500 on Hawker 750s, 800s, 850s and 900s will be STC’d by next month. Installations through Hawker Beechcraft Services’ factory-owned service centers will require three to four days of downtime, Max-Viz told AIN. The EVS-1500 will also be a factory option on new 900XPs.
Hawthorne Global Aviation Services opened an FBO at Long Island MacArthur Airport in Islip, N.Y, today. The facility is co-located with aircraft charter, management and maintenance firm ExcelAire. In conjunction with the opening, Hawthorne also announced plans to add up to 32,000 sq ft of hangar and office space to the FBO, allowing it to accommodate bizliners. The FBO is also a qualified gateway to Washington Reagan National Airport.
Cessna Aircraft signed a strategic agreement today with China Aviation Industry General Aircraft Company (Caiga) and the Shijiazhuang Municipal Government that lays the groundwork for final assembly, sales and customer support for the Cessna Caravan in China for the Chinese market.
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