Hawker Beechcraft inked an order for six Beechcraft King Air 350i turboprops from Hawker Pacific yesterday at EBACE. The deal with Hawker Pacific, a business aircraft sales and support firm in the Asia Pacific region, will support Hawker Beechcraft’s growing commercial and special missions operations across Australia and Southeast Asia. The six deliveries will be phased over the next three years, with the first delivery taking place later this year, three deliveries in 2013 and the final two aircraft being delivered in 2014.
Nextant Aerospace expects to deliver more than 30 remanufactured 400XTs by year-end, company CEO Ken Ricci said yesterday at EBACE. To date, the company has delivered 10 Nextant 400XTs, and it expects to financially break even on the program when it ships the 14th aircraft in about two months.
Nextant Aerospace expects to deliver more than 30 of its 400XTs by the end of 2012, according to CEO Ken Ricci. At an EBACE show press conference yesterday, Ricci insisted that the U.S. company “remanufactures” Hawker Beechcraft 400A/XPs, rather than simply converting them. “That’s truly the difference between us and what Hawker Beechcraft has contracted Sierra Industries to do to create the 400XPR,” he declared.
Not quite two weeks after filing for U.S. Chapter 11 bankruptcy protection, Hawker Beechcraft said at EBACE today that it will be “well positioned for the future” when it emerges from bankruptcy this later this year.
“There’s been a lot of misinformation and speculation. We’re going to talk to you about facts,” said Hawker Beechcraft executive vice president of customers Shawn Vick. “Chapter 11 protection should not be confused with liquidation or insolvency. There is simply too much value in Hawker Beechcraft, its people, products and brands to allow that to happen.”
Barely two weeks after filing for U.S. Chapter 11 bankruptcy protection, Hawker Beechcraft Corporation (Stand 7060) told a pre-EBACE press conference on May 13 that it will be “well positioned for the future” when it emerges from that status later this year.
Nextant Aerospace is delivering the tenth example of its Nextant 400XT here at EBACE 2012. The re-engined and cockpit-upgraded reworkings of Hawker Beechcraft’s Beechjet 400A are in demand on this of the Atlantic, according to the company.
Jordan’s Arab Wings has become the first Middle East operator to fly Bombardier’s Global 5000 aircraft with its new Vision flight deck suite.
The NTSB has released the preliminary accident report on the April 3 ditching of a Hawker Beechcraft King Air C90GTx. The ditching occurred during a delivery flight of the new turboprop twin from the Hawker Beechcraft Corp.
Hawker Beechcraft announced at 3:30 p.m. EST today that it has reached an agreement with a “significant number” of its senior secured lenders and senior bondholders on the terms of a financial restructuring plan that will “strengthen the company for the future and eliminate approximately $2.5 billion in debt and approximately $125 million of annual cash interest expense.” To move this process forward, the Wichita-based OEM and certain of its subsidiaries today filed voluntary petitions under the Chapter 11 bankruptcy code.
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.”