Goldman Sachs, the Wall Street investment firm, has a thing for business aviation, according to Sanjeev Mehra, the firm’s managing director. Raytheon Aircraft, purchased on March 26 this year, was its most recent acquisition. Investment funds controlled by the Goldman Sachs affiliate Goldman Sachs Capital Partners and Canada’s Onex Partners bought the Wichita OEM for $3.3 billion in debt and equity and renamed it Hawker Beechcraft.
Bill Brown, president of global customer support for Hawker Beechcraft, arrived at the NBAA Convention with a renewed sense of enthusiasm following the sale of the company by defense contractor Raytheon to investors Goldman Sachs and Onex Capital Partners. That type of transaction isn’t always a reason for optimism, but in case of the Wichita manufacturer, the future is looking bright.
Hawker Beechcraft dominated the business aviation news headlines this week at Asian Aerospace in Hong Kong, announcing 10 new jet sales and the strengthening of its sales network for the promising Asian market. Macau-based charter/management operator Jet Asia ordered four midsize Hawker 900XPs, along with four shorter-range Hawker 750s.
After purchasing Landmark Aviation and Standard Aero from The Carlyle Group on August 1, Dubai Aerospace Enterprise (DAE) announced that it is selling a division of Landmark Aviation now called the Airport Services Group and retaining the maintenance-focused portions of Landmark, including executive aircraft completions business Associated Air Center as well as turbine overhauler Standard Aero.
Although the second quarter of this year raised the order backlog at Hawker Beechcraft to a company record $5.1 billion, roughly double what it was at the same time last year, the realities of purchasing Raytheon’s aircraft division led to an operating loss of $36.6 million. Sales for the second quarter were down 10 percent from last year to $701 million, despite the fact the manufacturer delivered two more aircraft in the same period.
Following the sale of Landmark Aviation to Dubai Aerospace Enterprise on August 1, the company’s entire Aviation Airport Services Division is officially for sale.
Hawker Beechcraft has appointed Jet Aviation in Dusseldorf, Germany an authorized service center for Hawker 800 series.
Although the second quarter of this year raised the order backlog at Hawker Beechcraft to a record $5.1 billion, roughly double what it was at this time last year, the realities of purchasing Raytheon’s aircraft division led to an operating loss of $36.6 million.
Bill Brown, Hawker Beech-craft’s new president for global customer support, has all the right credentials for his new job, which he started at the end of May. Brown took over the job from Randy Groom, who “recently made the decision to take some time with his family and explore new career opportunities for the future,” according to Hawker Beechcraft.
Hawker Beechcraft has chosen InterGlobe General Aviation to provide sales and service support for its aircraft in India. The company will be Hawker Beechcraft’s exclusive representative for the Hawker 400XP; the Hawker 125 series, including the Hawker 750, Hawker 850XP and Hawker 900XP; and Hawker 4000. The company’s territory includes India, Nepal, Sri Lanka, Bangladesh, Maldives and Myanmar.