Bankruptcy

February 1, 2013 - 8:45pm

In a decision opening the way for Hawker Beechcraft to emerge from Chapter 11 bankruptcy later this month, U.S. Bankruptcy Court today approved the Wichita OEM’s joint plan of reorganization. “Today’s ruling marks the final significant step in the restructuring process,” said Hawker Beechcraft CEO Steve Miller. The company said that, as part of the reorganization, it will be rebranded Beechcraft Corp.

January 30, 2013 - 12:40pm

In ruling on a request by Hawker Beechcraft to “reject certain [warranty support] agreements related to the Hawker 4000 and Premier I and IA,” bankruptcy court judge Stuart Bernstein decided last week to grant the motion in part, and deny it in part.

January 29, 2013 - 4:25pm

Hawker Beechcraft’s key creditors voted “overwhelmingly” on Friday to approve the Wichita-based aircraft manufacturer’s proposed joint plan of reorganization as part of its efforts to emerge from bankruptcy. JPMorgan Securities and Credit Suisse Securities will jointly structure, arrange and syndicate $600 million in exit financing for the post-bankruptcy standalone company, Beechcraft Corp.

January 25, 2013 - 2:16pm

Hawker Beechcraft key creditors voted “overwhelmingly” today to approve the Wichita-based OEM’s proposed Joint Plan of Reorganization as part of its efforts to emerge from bankruptcy.

January 3, 2013 - 2:14pm

Pinnacle Airlines and its wholly owned subsidiaries have entered into a series of agreements that would provide a path forward for the company to emerge from bankruptcy under the ownership of Delta Air Lines or an affiliate, the company announced Thursday.

December 6, 2012 - 4:15pm

With bankruptcy court approval yesterday of Hawker Beechcraft’s disclosure statement filed with its joint plan of reorganization (POR), the company’s emergence from Chapter 11 appears to be accelerating. The court’s move allows Hawker Beechcraft to begin soliciting approval of the POR from its creditors.

November 14, 2012 - 1:17pm

Biozyme, the owner of a Hawker Beechcraft (HBC) Premier IA, has filed an objection with the bankruptcy court handling the Hawker Beechcraft proceedings, questioning the manufacturer’s plan to suspend warranty coverage as part of its efforts to exit bankruptcy.

October 5, 2012 - 5:40am

American Eagle flight attendants voted to ratify a tentative contract agreement with the bankrupt airline last month. The Association of Flight Attendants (AFA) said the deal contains “substantial improvements” over management’s original bankruptcy term sheet as well as its so-called Last Best Final Offer. Eighty-seven percent of the AFA members who cast ballots voted in favor of the agreement.

September 27, 2012 - 4:08pm

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 items and $8.8 million on research and development.

September 6, 2012 - 1:34pm

A September 7 creditors meeting is expected to appoint liquidators to handle the assets of the UK-based Ocean Sky group’s aircraft charter, management and brokering divisions.

 
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