Hawker Beechcraft Restructuring Could Include Sale

 - June 19, 2012, 4:05 PM

Hawker Beechcraft is now just 11 days from a deadline to file its “plan of reorganization” with the U.S. Bankruptcy Court in Manhattan, and it’s possible that the plan could involve the sale of the company. “The plan provides specific details regarding how the company plans to pay creditors and allow the business to be successful in the long term,” an HBC spokeswoman told AIN.

Besides the restructuring process, which the company expects will allow it to emerge from Chapter 11 bankruptcy by year-end, attorney Patrick Nash, Jr. of Kirkland & Ellis confirmed that several companies have expressed some interest in acquiring at least portions of HBC. Parties interested in bidding on the Wichita OEM, in part or in whole, submitted documentation of their bids earlier this month, though their identities were not made public.

In a document submitted to the court, HBC offered an executive summary of a reorganized business plan framework. It listed several options and assumptions available during reorganization: Option A assumes exit of all jet production but continuation of Beechcraft (piston and turboprop) business, including defense; Option B assumes that in addition to Beechcraft the company would continue to produce the Hawker 900; Option C assumes that in addition to Beechcraft the company would continue to produce the Hawker 900 and Hawker 4000. The Hawker 400XP and Premier IA and II were excluded from the future options.