Hawker Beechcraft Loses $90 Million in May
In a hearing yesterday that lasted barely 10 minutes in U.S. Bankruptcy Court for the Southern District of New York, Hawker Beechcraft made an obligatory filing in compliance with Chapter 11 reporting requirements. As part of the report, HBC noted a $90 million loss for the month of May that included $33 million in operating losses.
The hearing was part of the long and complex restructuring process as Hawker Beechcraft winds its way through Chapter 11 bankruptcy protection. As of the original bankruptcy filing in early May, the Wichita OEM had assets totaling $2.7 billion and liabilities of $3.96 billion.
While Hawker Beechcraft subsequently listed a number of options available under reorganization plans, among them sale of part or all of the company, it has also consistently voiced the intention of restructuring and emerging intact from the bankruptcy proceeding by the end of this year. The next court hearing for Hawker Beechcraft is scheduled for July 10.