Economics

February 19, 2013 - 3:07pm

Inadequate infrastructure, excessive government fees, legal barriers and skills shortages are the main factors holding back the growth of business aviation in Africa, according to a policy document published yesterday by the African Business Aviation Association (AfBAA).

February 7, 2013 - 3:50pm

Comments by President Obama’s press secretary that tax depreciation schedules constitute “loopholes” for corporate jets ignited a blitzkrieg of return fire from general aviation on Tuesday. Pete Bunce, chairman and CEO of the General Aviation Manufacturers Association, declared that politics in Washington continues to demonstrate that facts can be conveniently overlooked when one is trying to point fingers and score sound bites.

February 5, 2013 - 3:45pm

In a decision opening the way for Hawker Beechcraft to emerge from Chapter 11 bankruptcy in the second half of this month, the U.S. Bankruptcy Court approved the Wichita OEM’s joint plan of reorganization late Friday. “[This] ruling marks the final significant step in the restructuring process,” said Hawker Beechcraft CEO Steve Miller.

February 5, 2013 - 1:10am

Many, but not all, former Silver State Helicopter students have had their student loans forgiven in the wake of the 2008 bankruptcy and liquidation of what was then the largest civil helicopter school in the U.S. However, Cleveland-based KeyBank did not offer loan forgiveness, prompting 100 former students to sue, charging that the bank knew of Silver State’s precarious financial condition when it offered them high-interest-rate loans of up to $70,000 to attend the school. Arguments in the case were heard late last year by the Ninth Circuit U.S.

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.

February 1, 2013 - 6:00am
Gulfstream Aerospace president Larry Flynn, second from left, announced plans for the OEM’s new service center in Beijing in February last year, and by November the facility was up and running. (Photo: David McIntosh)

When the financial crisis that exploded in late 2008 began to ravage Western economies in 2009 and 2010, the business aviation industry took well founded comfort from the fact that escalating demand from emerging markets farther east seemed to be shoring up otherwise sagging demand in traditional markets.

February 1, 2013 - 5:10am

At press time Hawker Beechcraft was expected on January 31 to seek confirmation of its plan of reorganization from bankruptcy court, allowing the company to emerge [from bankruptcy] some time in February, which is when the name change to Beechcraft Corp. will also become effective.

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 28, 2013 - 12:00pm

The Boeing bargaining unit of the Society of Professional Engineering Employees in Aerospace (SPEEA) has set a date of February 4 for sending strike ballots to its members, union director Ray Goforth told AIN last Wednesday. Members of the Bargaining Unit Council (BUC), consisting of all the company’s “relevant” shop stewards, reached the decision on Tuesday night, during a meeting in which the council agreed to support the negotiating team’s rejection of the company’s “best and final offer.”

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.

 
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