With its official emergence from bankruptcy today, the new Beechcraft Corp. returns to the roots planted by founders Walter and Olive Ann Beech in 1932.
Pre-owned Hawker 700/800/900s are currently “significantly undervalued,” Brian Proctor of business jet broker and consultancy Mente Group said today at the NBAA Aircraft Finance, Registration and Legal conference in Bonita Springs, Fla. He contends that prices of these aircraft could potentially double (from current values, depending on the specific model) soon after Hawker Beechcraft exits bankruptcy later this month.
Hawker Beechcraft appointed Ted Farid as sales vice president for the Asia-Pacific region, which spans all of North and South Asia, including India. He joined HBC in 1996 and has most recently served as senior vice president for international sales and new business development. For now, Farid will continue to be based at Beechcraft’s headquarters in Wichita, but he plans to relocate to the Asia-Pacific region, mostly likely either Singapore or Hong Kong.
Hawker Beechcraft Corporation (HBC) has appointed Ted Farid as sales vice president for the Asia-Pacific region, which spans all of North and South Asia, including India.
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.
Rusada has locked a contract with Hawker Beechcraft Global Customer Support (GCS) for the installation and support of its Envision MRO software across all of its Hawker Beechcraft Services facilities in the U.S.
“We are pleased to be extending our relationship with Hawker Beechcraft,” said Julian Stourton, CEO of Rusada. “Hawker Beechcraft has been using the Envision product for four years in its UK service center and concluded that the functionality and savings achieved by the software would be a great asset to its greater organization.”
Eric Hinson has been named president of flight training provider SimCom. Most recently he served as executive v-p of FlightSafety International.
The downsized Beechcraft that is expected to emerge from bankruptcy protection at the end of this month will retain and expand its services division, two senior Hawker Beechcraft Services (HBS) executives told AIN. There are no plans at this time to spin off Hawker Beechcraft Services into a separately owned company.
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.
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.