14 Facts About Hawker Beechcraft

Hawker Beechcraft Corporation was an American aerospace manufacturing company that built the Beechcraft and Hawker business jet lines of aircraft between 2006 and 2013.

Hawker Beechcraft headquarters was in Wichita, Kansas, United States, with maintenance and manufacturing locations worldwide.

The history of Hawker Beechcraft originated in 1994 when Raytheon merged its Beech Aircraft Corporation and Raytheon Corporate Jets units.

Hawker Beechcraft Inc was a new company formed by the Canadian investment firm Onex Partners and GS Capital Partners, an affiliate of global finance house Goldman Sachs.

Hawker Beechcraft indicated that orders for aircraft had slowed down, especially by fractional jet operators.

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Hawker Beechcraft achieved orders of US$450M during the period April to June 2009, but had orders totalling US$366M cancelled in the same period.

Hawker Beechcraft was close to defaulting, but Sam Goodyear, an analyst at CreditSights predicted that the lenders would rearrange the debt rather than force the company to liquidate, as their return in the prevailing market conditions would be poor.

In January 2012, the company's Hawker Beechcraft AT-6 lost out to Embraer's Tucano in a competition to supply 20 light attack jets to Afghanistan.

Hawker Beechcraft reported that it had breached banking covenants and had failed to file its 10-K for 2011 on time because of problems with its internal financial reporting systems.

Hawker Beechcraft plan involved retaining its piston-engined and turboprop aircraft lines and reducing or eliminating its jet aircraft lines.

In late November 2012, the company made application to the bankruptcy court to sell off 20 Hawker Beechcraft 4000s, comprising 13 finished new 4000s, three being built and four used aircraft, at heavily discounted prices to raise money for the company.

Bankruptcy judge Stuart Bernstein rejected the sale, stating that Hawker Beechcraft had not made a case for the discounted sale being necessary.

Hawker Beechcraft plan was given final court approval on January 31,2013.

Hawker Beechcraft named a new board of directors; Bill Boisture became CEO of the new Beechcraft Corporation and former CEO Steve Miller became a senior adviser to the board.