As of April 16, Hawker Beechcraft had not released its 2011 financial report, but the obligatory 10-K form filed with the Securities and Exchange Commission paints a picture of a difficult road ahead for the company.
In a statement issued April 13 announcing the filing, CEO Steve Miller said the document reflects “the combined effect of the prolonged weakness in our market that has continued to affect our business and the heavy debt burden the company has operated under since 2007.”
About a week after it revealed that it posted a $632.8 million loss last year, Hawker Beechcraft issued a 60-day warning to workers yesterday, noting that it “will lay off approximately 350 employees in several areas of operations in Wichita.” The company currently employs about 4,700 workers in Wichita.
The UK’s PremiAir group has closed its fixed-wing charter operation as part of a consolidation process. It has already sold one of its three Bombardier Learjet 45s and will likely sell the other two. “We lost a lot of money on the fixed-wing operation and it is questionable whether it was a good idea to get into this business with that type of aircraft,” commented group operations director Christopher Forrest.
The saga of the U.S. Air Force Light Air Support (LAS) competition took another turn this week when Sierra Nevada petitioned the U.S. Federal Court of Claims for a judicial review of the service’s investigation into the LAS source selection process. SNC vice president Taco Gilbert said that the Court is the best place to resolve the disputed selection quickly. Four days earlier, the Air Force said it would issue a new request for proposals (RFP) by the end of this month.
The King Air 250 received EASA certification, Hawker Beechcraft announced yesterday. The twin turboprop received FAA certification last June, followed by Brazil National Civil Aviation Agency of Brazil (ANAC) approval in November. Hawker Beechcraft plans to start deliveries of the King Air 250 in Europe “soon.” The upgraded King Air features composite winglets and propellers, as well as engine induction modifications that contribute to its performance gains.
Hawker Beechcraft lost $632.8 million last year, according to the 10-K form it filed with the Securities and Exchange Commission on Friday.
Tornadoes that tore through Wichita on Saturday night left a path of destruction at several aircraft manufacturers but thankfully no fatalities. Damage at Hawker Beechcraft was “limited and isolated damage to the roof” of Plant IV, where final assembly of business jets and turboprops is performed, a company spokeswoman told AIN. “There is no effect on operations,” she added. Repair is under way on the building and employees have been reporting for work as scheduled this week.
GAMA released its revised 2011 annual report today, now that Hawker Beechcraft has issued its fourth-quarter and Fiscal Year 2011 financial results. Turboprop deliveries fell from 368 aircraft in 2010 to 361 last year, down 1.9 percent, while business jet shipments descended to 703, down 7.9 percent from 763 jets in 2010. Billings decreased slightly to $19.644 billion last year, down 0.4 percent from $19.715 billion in 2010.
A new Hawker Beechcraft King Air C90GTx delivered on Monday was ditched into the ocean some 17 miles north of Oranjestad, Aruba, the following day during the ferry flight to Brazil. An NTSB spokesman told AIN that the two Brazilian nationals flying the twin turboprop were unharmed in the ditching and subsequent rescue by the Dutch navy. The pilots declared an emergency after both engines lost power, said the NTSB, which is investigating the accident. The King Air sank in 4,000 feet of water.
Hawker Beechcraft Global Customer Support (GCS) has appointed Shanghai Hawker Pacific Business Aviation Service Center its first authorized service center in mainland China. Located at Shanghai Hongqiao International Airport, Shanghai Hawker Pacific will provide service to Hawker owners and operators in the Northern Asia Pacific region.
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