With the new Beechcraft Corp. exiting the jet business when Hawker Beechcraft emerges from bankruptcy as a standalone company in the spring, the company sought to clarify its position with regard to warranties today at the NBAA Convention.
Late last night, Hawker Beechcraft announced that China-based Superior Aviation Beijing Co. has signed an “exclusivity agreement” to buy the whole U.S. aircraft manufacturer, minus its defense business. Hawker Beechcraft filed for U.S. Chapter 11 reorganization in May and just last week outlined a framework to exit this protection by year-end. Part of this plan included a potential sale, which is now the likely outcome.
As of mid-June the next hurdle for Hawker Beechcraft was the June 30 deadline to file its plan of reorganization with the U.S. Bankruptcy Court in Manhattan.
“The plan provides specific details regarding how the company plans to pay creditors and allow the business to be successful in the long term,” said an HBC spokeswoman.
Hawker Beechcraft is now just 11 days from a deadline to file its “plan of reorganization” with the U.S. Bankruptcy Court in Manhattan, and it’s possible that the plan could involve the sale of the company. “The plan provides specific details regarding how the company plans to pay creditors and allow the business to be successful in the long term,” an HBC spokeswoman told AIN.
Hawker Beechcraft Global Customer Support and Max-Viz expect the FAA to issue the STC for installation of the Max-Viz EVS-1500 enhanced vision system for the Hawker 750 through 900 this month. Hawker Beechcraft is also offering the EVS-1500 for buyers of new Hawker 900XPs. Installations for the Hawker 750 through 900 series will be done at Hawker Beechcraft Services factory-owned service centers. In the Hawker jets, EVS-1500 delivers infrared imaging to Rockwell Collins Pro Line 21 MFDs as well as video-capable EFBs and, using a video distribution amplifier, passenger monitors.
Hawker Beechcraft filed for bankruptcy protection under Chapter 11 on May 3, and if activity at the recent European Business Aviation Convention & Exhibition is any indication, the Wichita aircraft manufacturer may be down, but it is definitely not out.
Hawker Beechcraft, currently in bankruptcy protection, continues to expand its global footprint. The OEM’s Global Customer Support (GCS) has appointed EASA Part 145-approved Gama Support Services at Farnborough Airport, UK, to its worldwide network of limited service centers to support the King Air 200, 250, 300 and 350 and the Premier business jet. In addition, Gama Support Services will support the Baron and Bonanza as an authorized service center.
StandardAero Business Aviation has announced its Fastlane program for operators of Honeywell TFE731-powered aircraft. Under the program, business jet operators can have guaranteed completion of a core-zone inspection in 14 days or less. Industry averages currently range from 30 to 40 days, according to StandardAero (Stand 671).
Three European operators signed up for the Hawker 4000 super-midsize jet–ordering one each yesterday at the EBACE show. The first one will go to Bucharest, Romania-based InterAviation, a charter operator that serves mainly the Middle East, Europe, Russia and other CIS countries. The second is being purchased by Orion-Malta, a company headquartered at Malta’s Luqa Airport. Both operators already have a Hawker 900XP in their fleet.
Not quite two weeks after filing for U.S. Chapter 11 bankruptcy protection, Hawker Beechcraft said at EBACE today that it will be “well positioned for the future” when it emerges from bankruptcy this later this year.
“There’s been a lot of misinformation and speculation. We’re going to talk to you about facts,” said Hawker Beechcraft executive vice president of customers Shawn Vick. “Chapter 11 protection should not be confused with liquidation or insolvency. There is simply too much value in Hawker Beechcraft, its people, products and brands to allow that to happen.”