In response to a request by Hawker Beechcraft seeking a 120-day extension of the exclusive period during which only the company can file a reorganization plan, a judge in U.S. Bankruptcy Court in New York today agreed to maintain exclusivity through the end of February.
Hawker Beechcraft will not exit bankruptcy by year-end as originally projected, if the court allows the Wichita-based aircraft manufacturer’s request for a 120-day extension filed late Thursday. A court hearing on the extension request is scheduled for August 30.
In line with what Hawker Beechcraft describes as its “continued focus on the international market,” the Wichita, Kansas-based OEM announced at LABACE that it has launched its new Portuguese-language website.
Citing its own research and that of Corporate Jet Investor in the UK, Hawker Beechcraft expects strong growth in demand for business aviation financing in Brazil over the next five years.
The Wichita-based OEM said the study reveal that, in Brazil, 46.9 percent of experts anticipate demand for business aviation financing to increase “dramatically between now and 2017,” and 40.6 percent expect only a slight increase. Only China has higher expected growth, Hawker Beechcraft noted.
Superior Aviation Beijing Co. Ltd., the Chinese company vying to buy Hawker Beechcraft, has hired Washington, D.C.-based lobbying firm Locke Lord Strategies to represent it on “aviation issues” in the U.S. Capitol. Locke Lord is also providing legal advice to Superior as it works to finalize its $1.79 billion deal for the Wichita-based aircraft manufacturer. According to the lobbying registration report, Locke Lord partners Phil Rivers, Mark Siegel and Shane Doucet, as well as senior policy adviser Walter Smith Jr., are handling the account.
Wichita, Kan.-based aircraft manufacturer Hawker Beechcraft predicts strong growth in demand for business aviation financing in Brazil over the next five years, based on research it conducted with Corporate Jet Investor of Surrey, England.
As part of AIN Publication’s annual survey of users of business aviation, we asked qualified subscribers of Aviation International News, our monthly print publication, to identify "specific individuals for going above and beyond when it comes to product/customer support" of aircraft, engines and avionics, and to explain why they deserve special recognition.
Registration is now open for the 16th annual Bombardier Safety Standdown, which will be held October 8 to 11 in Wichita. Bombardier offers the seminar at no charge to attendees, but space is limited and registration is required.
Bombardier Aerospace will temporarily cease production of the Learjet 60XR later this year due to flagging demand for the $13.71 million eight-passenger twinjet, the company announced to employees at its Wichita facility late last week. Though the “production pause” will start late in the fourth quarter, “We will continue delivering Learjet 60XRs into 2013 and we will be honoring all orders for the airplane,” a Bombardier spokeswoman told AIN.
Despite objections from the International Association of Machinists and Aerospace Workers (IAM), the U.S. Bankruptcy Court for the Southern District of New York today approved Hawker Beechcraft’s motion to enter into exclusive negotiations with Superior Aviation Beijing Co. The proposed deal was announced early last week, but required a judge’s approval to proceed.