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.”
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.
Avion Pacific and Hawker Beechcraft sealed a $50 million deal yesterday for 10 Beechcraft King Air twin-turboprops. The order is for a combination of the largest King Air–the 350i–and the smallest, the C90GTx. Deliveries will begin in the fourth quarter of this year.
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.
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.
“We are still evaluating another venue that could be in China or elsewhere in Asia, but we have had some interesting conversations at the show,” company founder Steve Varsano told AIN.
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.
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.
Honeywell believes that its track record in supporting air transport development in China stands it in good stead to pioneer the expansion of business aviation too. “Honeywell has been a pioneer in [business aviation] support in China,” said Rishiraj Singh, the avionics and engine manufacturer’s director and business leader in the Asia Pacific and China region.
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.
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.