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Upon its emergence from Chapter 11, the company plans to
enter into a new financing facility of at least $525
million, consisting of a term loan and a revolving line
of credit, that will be used to repay the
debtor-in-possession (DIP) post-petition credit
facility, issue letters of credit to replace the DIP and
fund ongoing operations.
As
part of its reorganization, the company intends to
rename itself Beechcraft Corporation and implement a
business plan that focuses on its turboprop, piston,
special mission and trainer/attack aircraft – the
company’s leading products – and on its parts,
maintenance, repairs and refurbishment businesses, all
of which are profitable and have high growth potential.
On
3 May 2012, the company entered bankruptcy, filing
voluntary petitions under Chapter 11, Title 11, United
States Code in U.S. Bankruptcy Court. The bankruptcy
resulted in the company accepting an offer to be
purchased by Superior Aviation Beijing although on 18
October 2012 the negotiations for the transaction had
failed.
Hawker Beechcraft is a world-leading manufacturer of
business, special mission, light attack and trainer
aircraft designing, marketing and supporting aviation
products and services for businesses, governments and
individuals worldwide. The company’s headquarters and
major facilities are located in Wichita, Kan., with
operations in Little Rock, Ark.; Chester, England, U.K.;
and Chihuahua, Mexico.
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