Hawker Beechcraft Corporation (HBC) has appointed Ted Farid as sales vice president for the Asia-Pacific region, which spans all of North and South Asia, including India.
Hawker Beechcraft, in what it hopes is the final phase of Chapter 11 bankruptcy proceedings, saw its employment level in Kansas drop to 3,372 as of December 31, triggering an automatic reduction in the annual incentive payment from the State of Kansas. In 2010 the company was granted $45 million in incentives by the state, based on an agreement to maintain employment in Kansas at 4,000.
The Middle East is continuing its trend in the growth of new aircraft deliveries, according to data released this week at MEBA 2012 by Hawker Beechcraft, which says it is picking up a good proportion of new orders for turboprops.
Hawker Beechcraft Corp. (HBC) rolled up to MEBA 2012 with its full line of civil Beechcraft King Air twin turboprops over the past two days as it prepared for a key court hearing, taking place today in the U.S., probing whether it has to honor warranties on Hawker 4000s and Premier I jets if, as intended, it sells its Hawker jets business to rebrand as Beechcraft Corporation.
With bankruptcy court approval yesterday of Hawker Beechcraft’s disclosure statement filed with its joint plan of reorganization (POR), the company’s emergence from Chapter 11 appears to be accelerating. The court’s move allows Hawker Beechcraft to begin soliciting approval of the POR from its creditors.
Dying is one thing. Being reborn is quite another, as Hawker Beechcraft, its employees, lenders and creditors are discovering during the current bankruptcy and restructuring.
At the NBAA Convention last month, HBC chairman Bill Boisture explained recent events to that point and outlined the Wichita OEM’s future, which he confirmed will not include its business jet line.
Vancouver-based Avcorp won a $24.7 million award yesterday from Cessna Aircraft due to damages suffered as a result of the Wichita aircraft manufacturer’s transitioning contracted production work from Avcorp. The two parties could not come to terms in mediation and negotiations after the December 2010 announcement about the transition of Avcorp’s production work to Cessna, so the matter was referred to binding arbitration. The arbitrator ruled in favor of Avcorp and all counterclaims from Cessna were denied.
Bombardier Learjet’s unionized employees in Wichita, members of the International Association of Machinists and Aerospace Workers (IAMAW), are back on the job after a five-week strike. Over the weekend, the Learjet production line workers voted to accept a proposed contract agreement, ending a strike that began on October 8.
Citing its intention to emerge from Chapter 11 bankruptcy protection as the standalone Beechcraft Corp., Hawker Beechcraft notified employees yesterday that it will begin the process of closing Hawker Beechcraft Services facilities in Little Rock, Ark.; Mesa, Ariz.; and San Antonio. The Wichita-based OEM also affirmed that approximately 240 employees will be affected at these locations.
Though the light and midsize jet markets yet await their resurgence from the depths of the past business cycle downturn, at Learjet there is a near palpable sense of anticipation that such a turnaround is looming. The Bombardier division currently has three new models preparing for entry into service next year—the Learjets 70, 75 and 85–and has embarked on a major expansion at its Wichita headquarters.