In response to a request by Hawker Beechcraft seeking a 120-day extension of the exclusive period during which only the company can file a reorganization plan, a judge in U.S. Bankruptcy Court in New York today agreed to maintain exclusivity through the end of February.
Hawker Beechcraft Global Customer Support (GCS) has appointed Premium Jet Aircraft Maintenance at Afonso Pena International Airport (SBCT) in Curitiba, Brazil, as an authorized service center to support the Hawker 125 and 400 series.
A bankruptcy court judge on Friday denied a request from Hawker Beechcraft to give eight of the Wichita OEM’s “senior leadership team” as much as $5.3 million in bonuses. HBC had filed the request with the U.S. bankruptcy court on August 15, describing the bonuses as based on the achievement of certain incentive goals.
Hawker Beechcraft filed for Chapter 11 bankruptcy protection in May and is currently in exclusive negotiations with Superior Aviation Beijing, which has placed a stalking-horse bid to buy Hawker Beechcraft for $1.79 billion. However, the Wichita-based aircraft manufacturer will ultimately be sold in a public auction, meaning it is still very much up for grabs.
Hawker Beechcraft will not exit bankruptcy by year-end as originally projected, if the court allows the Wichita-based aircraft manufacturer’s request for a 120-day extension filed late Thursday. A court hearing on the extension request is scheduled for August 30.
In line with what Hawker Beechcraft describes as its “continued focus on the international market,” the Wichita, Kansas-based OEM announced at LABACE that it has launched its new Portuguese-language website.
Citing its own research and that of Corporate Jet Investor in the UK, Hawker Beechcraft expects strong growth in demand for business aviation financing in Brazil over the next five years.
The Wichita-based OEM said the study reveal that, in Brazil, 46.9 percent of experts anticipate demand for business aviation financing to increase “dramatically between now and 2017,” and 40.6 percent expect only a slight increase. Only China has higher expected growth, Hawker Beechcraft noted.
With an eye on Brazil as “a key market for the entire Hawker Beechcraft line,” the Wichita, Kan.-based aircraft manufacturer is a major presence at LABACE this year, bringing six of its most popular aircraft.
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.