Raytheon Aircraft no longer owns part of Cheyenne, Wyo.-based Great Lakes Aviation, following the airline’s November 16 repurchase of all common stock owned by the one-time Beech 1900 manufacturer. According to Great Lakes’ third-quarter 10Q filing with the SEC, the airline entered into new financing agreements with GB Merchant Partners and Crystal Capital, allowing it to settle its obligations with Raytheon Aircraft. Terms of the financing include a four-year term loan of $24 million and a revolving loan credit facility under which the company may borrow $10 million.
While Boisture’s assessment appears accurate, there are also signs that Hawker Beechcraft remains stuck, not between a rock and a hard place, but between a hard place and a harder place. And while some of Wichita-based OEM’s problems have their source in the current recession, others are more than a decade in the making, well before Boisture began his tenure at HBC in 2009.
Lockheed Martin announced that the troubled, tri-national, medium extended air defense system (MEADS) underwent its first flight test, at the White Sands Missile Range (WSMR) on November 17.
Raytheon has completed delivery and installation of its latest generation AutoTrac III (AT3) air traffic management system at Dubai’s Al Maktoum International Airport, which is scheduled to open in 2012.
South Korea is expected to issue a request for proposals for an F-16 radar retrofit this week. It could be the first country to decide between the Northrop Grumman Scalable Agile Beam Radar (SABR) and the Raytheon Advanced Combat Radar (RACR).
Raytheon has successfully completed fit-checks for the AGM-154C-1 Joint Standoff Weapon (JSOW C-1) in the internal carriage bay of the Lockheed Martin F-35 Joint Strike Fighter (JSF).
Lockheed Martin’s Terminal High-Altitude Area Defense (THAAD) system successfully undertook a sophisticated “two versus two” trial-firing last month, and the air defense system has just completed a final review regarding the possible sale to the United Arab Emirates, which could be announced imminently.
Raytheon and Emirates Advanced Instruments (EAI) have completed environmental and flight tests of the Talon laser-guided rocket, opening the way for production.
Raytheon has come to Dubai to press the case for its special-mission aircraft expertise in a region where the U.S. company sees a healthy market for airborne ISR (intelligence, surveillance, reconnaissance).
Unglamorous though they are, aerostats are carving a substantial niche in the airborne surveillance business. They come in all sizes, from 30 feet long and a volume of 2,500 cu ft, to a massive 242 feet and 590,000 cu ft.