Hawker Beech, Superior Silent after Deadline Ends

 - October 5, 2012, 4:10 AM

At press time, Hawker Beechcraft and potential buyer Superior Aviation Beijing were still radio silent some three weeks after the September 1 deadline for exclusive negotiations between the two companies ended. The passing of the exclusive negotiations deadline allows other interested parties to submit their own bids and enter into negotiations. Hawker Beechcraft filed for bankruptcy on May 3 and had been moving forward on restructuring when it was announced on July 17 that Superior Aviation had reached an “exclusivity agreement” to purchase HBC for $1.79 billion. Meanwhile, a bankruptcy judge has approved Hawker Beechcraft’s request for a 120-day extension to emerge from bankruptcy, meaning it won’t exit protection until the spring.