The Hawker Beechcraft T-6C here at the Farnborough International Airshow flew across the Atlantic Ocean to join the company’s static display, demonstrating the single-engine turboprop trainer’s versatility. Its appearance at the show happens against the backdrop of the still unresolved question of whether the U.S.
Hawker Beechcraft filed a restructuring plan on Saturday that outlines how it intends to satisfy creditors as part of its plan to exit bankruptcy by year-end. The filing also gave more details about the number of entities that bid to buy parts or the whole company.
As of mid-June the next hurdle for Hawker Beechcraft was the June 30 deadline to file its plan of reorganization with the U.S. Bankruptcy Court in Manhattan.
“The plan provides specific details regarding how the company plans to pay creditors and allow the business to be successful in the long term,” said an HBC spokeswoman.
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.
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.
In response to the lawsuit filed by Hawker Beechcraft over the light air support (LAS) competition, competitor Sierra Nevada filed an action in the U.S. Court of Federal Claims yesterday seeking reinstatement of the contract that had been originally awarded to Sierra Nevada and its partner, Brazilian aircraft manufacturer Embraer.
Quebec City-based Gal Aviation and Mena Aerospace Enterprises of Bahrain have joined to form Galmena. The joint venture, based in Bahrain, provides comprehensive services for corporate aircraft, including executive airliner interior design, refurbishment and installation.
Hawker Beechcraft Global Customer Support and Max-Viz expect the FAA to issue the STC for installation of the Max-Viz EVS-1500 enhanced vision system for the Hawker 750 through 900 this month. Hawker Beechcraft is also offering the EVS-1500 for buyers of new Hawker 900XPs. Installations for the Hawker 750 through 900 series will be done at Hawker Beechcraft Services factory-owned service centers. In the Hawker jets, EVS-1500 delivers infrared imaging to Rockwell Collins Pro Line 21 MFDs as well as video-capable EFBs and, using a video distribution amplifier, passenger monitors.
For the first three months of the year, general aviation aircraft deliveries experienced a modest decline of 2.1 percent compared with the first quarter of last year, while overall industry billings shrank by 8 percent, to $3.39 billion, according to statistics released last month by the General Aviation Manufacturers Association.
Hawker Beechcraft filed for bankruptcy protection under Chapter 11 on May 3, and if activity at the recent European Business Aviation Convention & Exhibition is any indication, the Wichita aircraft manufacturer may be down, but it is definitely not out.