Pending revisions to its current plan for reorganization as indicated to bankruptcy judge Stuart Bernstein November 29, Hawker Beechcraft expects to emerge from Chapter 11 in February 2013, as the Beechcraft Corporation.
A major hurdle facing Hawker Beechcraft in its effort to restructure and emerge from Chapter 11 bankruptcy is the sale of the Wichita OEM’s inventory of Hawker 4000s. The hearing date for the company’s request for court approval of the sale is now set for December 11, following a decision last week by judge Stuart Bernstein to deny the company’s request for an expedited hearing and sale.
The closing of some Hawker Beechcraft (HBC) factory-owned service centers as a result of the manufacturer’s bankruptcy has changed the way customers have their aircraft maintained, especially in the Southwest U.S. Previously, the factory-owned HBC center in Mesa, Ariz., pulled business from the West Coast, Mexico and other areas.
Business jet demand “remains weak, but is not getting much worse,” JPMorgan Investment Research noted in its latest business jet monthly report. This sentiment is reflected in its forecast of 2 percent growth in business jet deliveries for next year.
Biozyme, the owner of a Hawker Beechcraft (HBC) Premier IA, has filed an objection with the bankruptcy court handling the Hawker Beechcraft proceedings, questioning the manufacturer’s plan to suspend warranty coverage as part of its efforts to exit bankruptcy.
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.
Hawker Beechcraft Global Customer Support (GCS) has named Horizontal De Aviación at Aeropuerto Internacional el Dorado in Bogotá, Colombia, an authorized service center to support the Beechcraft King Air line. “The Colombian aviation market is one of the fastest growing Beechcraft aviation segments in Latin America,” said Christi Tannahill, Hawker Beechcraft senior vice president of Global Customer Support.
Renowned aviator Barrington Irving gave an inspiring message about aviation as a career to hundreds of middle and high school students from central Florida today at the NBAA Convention. In 2007, at just 23, Irving flew solo around the world in a Columbia 400, dubbed Inspiration because he had to ask individual suppliers for donated parts so he could afford the airplane. After flying more than 30,000 miles without radar or anti-icing systems, he became the first African American and the youngest person to fly solo around the world.
Hawker Beechcraft signed orders for nine aircraft–one King Air 350i, two King Air 250s, two King Air C90GTx and four Baron G58s–worth more than $34 million today at the NBAA Convention. The orders were placed by four Beechcraft distributors in Latin America–Aerolineas in Mexico; Aviaservice in Colombia, Caribbean and Venezuela; Aviasur in Chile; and Beechcraft de Guatemala. Business aircraft financier AirFinance is providing funding for the orders. Deliveries will begin in the second quarter and conclude by the end of next year.
Business aviation service provider Gama Group (Booth No. 2843) has entered an exclusive agreement through its subsidiary Gama Support Services with Professional Aviation Associates to hold consignment stock for Europe-based Hawker Beechcraft aircraft. The agreement significantly expands the range of stock that Gama Support Services holds for Hawker Beechcraft products, according to Gama Group.