Hawker Beechcraft, which reported a $44 million net loss and $95 million negative cash flow in October, followed that filing with the bankruptcy court by reporting in a separate filing a sales forecast of $1.9 billion in 2013 as a new, standalone company following its emergence from bankruptcy in February.
Looking forward to concluding what has been a painful and contentious restructuring process, the Wichita OEM plans to seek final approval from bankruptcy judge Stuart Bernstein on January 31. Court approval would allow Hawker Beechcraft to exit bankruptcy in mid-February as Beechcraft Corp.
Meanwhile, an omnibus court hearing is set for December 11 regarding a motion by an ad hoc committee of Hawker 4000 customers to halt the proposed sale of 20 Hawker 4000s by the company. The hearing will also include a decision on whether to allow Hawker Beechcraft to “reject certain aircraft warranty and support obligations related to the Hawker 4000 and Premier I/IA business jets, effective December 15.”
The ad hoc committee of Hawker 4000 owners, as well as McGrath Air and Pace Aviation, filed separate motions yesterday to block Hawker Beechcraft’s effort to void portions of its Hawker 4000 and Premier I/IA warranties and support obligations.