Beechcraft emerges from Chapter Eleven
Beechcraft, formerly Hawker Beechcraft, announced today it has formally emerged from the Chapter Eleven process as a new company. The company’s Joint Plan of Reorganization (Plan) was approved by the US Bankruptcy Court for the Southern District of New York on February 1, 2013, and became effective on February 15, 2013.
“Today marks the rebirth of an 80-year-old American aircraft manufacturing business with a globally recognized brand. Beechcraft has emerged from this process a stronger company with both financial and operational strength and stability,” said Bill Boisture, chief executive officer of Beechcraft. “We have a strong line of versatile and globally renowned products like the King Air turboprop and the T-6 military trainer aircraft, and the largest global customer support network in the industry. Our highly skilled and dedicated work force is focused on building aircraft of exceptional quality and reliability. With these elements as our foundation for the future, we will compete worldwide and we will win.”
“I would like to thank our employees for their hard work and focus, and our union partner, key creditors, elected officials, suppliers and customers for their strong support throughout this process,” Boisture added.
Beechcraft’s product portfolio includes the King Air family of the 350i, 250 and C90GTx and there is a fleet of more than 7,000 King Air turboprops operating in 115 countries around the world.
Its piston-engine Bonanza G36 and Baron G58 twin continue to represent the pinnacle of high-performance, six passenger capability for their class. A global fleet of nearly 25,000 Baron and Bonanza aircraft also serve as an entry level platform for the King Air line.
The company’s Global Customer Support (GCS) team and its factory-owned service center network, Hawker Beechcraft Services, will continue supporting all Hawker and Beechcraft products. The network includes 10 facilities in the United States, Mexico and the United Kingdom, along with more than 90 authorised service centers around the world. The GCS team is dedicated to improving the value of Hawker and Beechcraft aircraft by employing products and services to simplify ownership, reduce operating cost and increase resale value. Two examples of this include the factory designed, engineered and supported Hawker 400XPR and Hawker 800XPR jet programs in which the company is offering owners the opportunity to upgrade engines, avionics and aerodynamics on their current aircraft.
Robert (Bob) Johnson is the chairman of the company’s new board. Its other members are: General Donald G. ‘Don’ Cook, Gene Davis, Ralph Heath, David Tolley, Gideon Argov, Mark Ronald, Paul Fulchino and Bill Boisture. The company’s leadership team remains in place, providing continuity and stability in running the business.