In a statement released December 14, Standard & Poor’s rating services said its ratings and outlook on Wichita-based Hawker Beechcraft (HBC) are not affected by the aircraft manufacturer’s retention of Perella Weinberg Partners to help assess its revolving credit agreement, the terms of which were last amended more than two years ago. The HBC decision followed Standard & Poor’s December 1 announcement that it would cut its credit rating of HB to Caa3, saying the manufacturer may be facing a distressed debt restructuring.
Hudson's Bay Company
After years with no factory-owned service center in the Northeast U.S., Hawker Beechcraft (HBC) has finalized an agreement to open a facility at New Castle Airport, in Wilmington, Del. HBC (formerly Raytheon Aircraft) used to have a Northeast facility at Atlantic City, which opened in 1999 and was sold in mid-2006.
Hawker Beechcraft (HBC) is holding preliminary discussions about expanding manufacturing operations into China, according to a company spokeswoman, who confirmed reports of HBC’s growing interest in the China market. Company CEO Bill Boisture has visited China a few times in recent months, she said, but HBC hasn’t yet publicly identified Chinese companies with which it might partner.
Hawker Beechcraft (HBC) will have to pay $14.2 million to close a two-year-old dispute with Airbus, which manufactures Hawker business jet airframe components for Wichita-based HBC. On April 29, an arbitrator–the International Chamber of Commerce–imposed the award for damages relating to HBC’s purchase volume obligations for fuselages, wings, track kits and spare parts under an airframe purchase and support agreement.
Bill Boisture is embroiled in the challenge of his career. As chairman and CEO of Hawker Beechcraft (HBC), Boisture leads a manufacturing company at a time when a confluence of debilitating events has decimated the general aviation industry.
Hawker Beechcraft (HBC) is installing customer-support leadership and adding $3 million in critical parts in the Asia-Pacific region. Steve Porte, v-p of international support, has relocated to the company’s regional headquarters at Hong Kong International Airport, where he will focus on developing HBC’s support infrastructure in the region. Porte will also supervise the Asia-Pacific field service representatives.
Signature Flight Support owner BBA Aviation announced that it is buying seven FBOs from Hawker Beechcraft, including a facility at busy and highly competitive Van Nuys Airport. The deal is valued at $128.5 million. BBA is buying HBC’s line and fuel operations in Atlanta; Houston and San Antonio; Indianapolis; Tampa, Fla.; Van Nuys, Calif.; and Wichita, but HBC is retaining its maintenance operations at those facilities.
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