Wichita, Kan.-based aircraft manufacturer Hawker Beechcraft predicts strong growth in demand for business aviation financing in Brazil over the next five years, based on research it conducted with Corporate Jet Investor of Surrey, England.
Hawker Beechcraft announced today at LABACE that the first customer aircraft in the Hawker 400XPR upgrade program is undergoing the Rockwell Collins Pro Line 21 avionics system retrofit at its Hawker Beechcraft Service facility in Atlanta.
A U.S. bankruptcy court has cleared the way for Hawker Beechcraft to begin “exclusive negotiations” for China’s Superior Aviation Beijing to acquire the civil aviation interests of the financially troubled group.
Hawker Beechcraft Global Customer Support opened a factory-owned aircraft maintenance facility last week at New Castle County Airport in Wilmington, Del. The Part 145 repair station offers airframe, engine, avionics and mobile service support for the company’s entire product line, from the Bonanza to the Hawker 4000.
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 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 secured orders for 11 aircraft–including three Hawker 4000s, a Hawker 400XPR, six King Air 350i turboprops and a King Air 250–worth more than $120 million during EBACE 2012 last week.
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.
As of April 16, Hawker Beechcraft had not released its 2011 financial report, but the obligatory 10-K form filed with the Securities and Exchange Commission paints a picture of a difficult road ahead for the company.
In a statement issued April 13 announcing the filing, CEO Steve Miller said the document reflects “the combined effect of the prolonged weakness in our market that has continued to affect our business and the heavy debt burden the company has operated under since 2007.”