[nonmember]Hawker Beechcraft may have problems with its debt but pre-owned brokers say that aircraft values will not be affected.::join::[/nonmember][ismember]
Hawker Beechcraft missed the deadline to file its annual report earlier this week. The company is now aiming to release the overdue report by April 12, and has announced that it will disclose details of an annual loss estimated at around $481.8 million.
Despite these troubles, leading aircraft brokers say that even if the company was forced to file for Chapter 11, it would not affect the value of pre-owned Hawker and Beechcraft aircraft.
Brendan Lodge, business development director at JetBrokers, said: “We are still getting inquiries. I have still got a couple of people interested in buying a Hawker 800 XP since the weekend, that want to carry on with discussion.”
“What people are saying is that Hawker Beechcraft has been there before, and someone always comes along and sorts it out,” he added. “We have got to look back and see what has happened in the past; every time they have gone through a crisis, it has not particularly affected them.”
Although there is little sign of this happening, even if Hawker Beechcraft was to file for Chapter 7, it would not have to look far to see examples of other aircraft manufacturers continuing to trade after declaring themselves bankrupt.
Walt Wakefield, Executive Vice President at Jeteffect says: “There is going to be the built-in assumption that someone will come along and acquire the assets of the company. Even when manufacturers have gone out of business in the past, there have been many cases where another company has came in and bought their assests.”
London broker Oliver Stone, managing director at Colibri Aircraft, agrees. “It does not really affect the operation of the company,” he said. “While there may be damage to the company’s reputation around the world, it does not actually affect the aircraft value.”
Both Lodge and Stone appear confident that Hawker Beechcraft will be able to weather the storm, so long as they are seen to be climbing their way out of the abyss.
Another factor which will greatly affect Hawker’s fate will depend on the arrival of the right buyer. Brendan Lodge, in fact, has expressed that he would not be surprised if the company begins to attract the interest of a Chinese investor.
“There is so much value in a factory plan that someone will buy out the maintenance facilities,” Stone concurred. “The real thing that will affect the company, if they do go into Chapter 11, will be the name that buys the service network.”