Hawker Beechcraft yesterday secured more time to solve its debt problems through a restructuring plan, with lenders granting a 90-day forbearance agreement. The move staves off the immediate threat of a filing for Chapter 11 bankruptcy protection–a move that has been widely expected by industry analysts. The U.S. manufacturer announced it had “reached an agreement with certain lenders that will provide the company with approximately $120 million of additional liquidity.”
All ABACE 2012 News
With one more day to run, ABACE organizers and exhibitors agree that the reborn show has been a great success that has put Asian business aviation firmly on the international air show calendar. This year’s event fulfilled all of its objectives, according to NBAA president Ed Bolen, who pointed to its ability to bring buyers and sellers together.
Bradley Pacific Aviation has opened a new FBO at Kona International Airport in Hawaii. The 4,000-sq-ft (372-sq-m) facility is conveniently located just off the main taxiway. Bradley Pacific is part of the Ross Aviation group (ABACE Booth H413) and it operates six FBOs across Hawaii’s islands.
Shanghai Hawker Pacific (SHP) general manager Carey Matthews, and deputy general manager Dr. George Lu, signed a preliminary service center agreement here yesterday at the ABACE show with Cessna president and CEO Scott Ernest.
It is testament to how seriously the China market takes its fledgling general-aviation industry that key players from the China Aircraft Owners and Pilots Association (AOPA) took to the stage for one of the conference sessions here at the ABACE show yesterday.
Avion Pacific and Hawker Beechcraft sealed a $50 million deal yesterday for 10 Beechcraft King Air twin-turboprops. The order is for a combination of the largest King Air–the 350i–and the smallest, the C90GTx. Deliveries will begin in the fourth quarter of this year.
Helicopter operators in China face the same regulatory and infrastructure impediments that their fixed-wing counterparts do. To learn more about how helicopters can be better accommodated in the Asian country, AIN sat down with Helicopter Association International president Matt Zuccaro at ABACE 2012.
The Jet Business is here at ABACE 2012 looking for a second venue to capitalize on the success of its novel private jet “showroom” in London’s exclusive Knightsbridge district.
“We are still evaluating another venue that could be in China or elsewhere in Asia, but we have had some interesting conversations at the show,” company founder Steve Varsano told AIN.
Steve Forbes was the keynote speaker at Wednesday night’s ABACE gala dinner held at the Hongqiao Hilton hotel. The U.S. businessman, who is chairman of the Forbes Media group, is a passionate advocate for business aviation.
Commercial aviation is the biggest impediment to business aviation’s growth in Asia, according to Tay Tiang Guan, deputy director general of the Civil Aviation Authority of Singapore (CAAS). Speaking at the ABACE show conference session yesterday, Tay admitted that the rapid growth of the commercial aviation sector is taking the lion’s share of regulators’ attention and dominating airspace.