Tue, May 15, 2012
But Company Exec Says Any Such Talk Is Pure Speculation
Hawker Beechcraft’s bankruptcy reorganization could be seen as a chance for the company’s competitors to buy up parts of the struggling airframer, but the company says it will emerge as a stronger, debt-free industry player. Shawn Vick, executive vice president-customers said in an interview at EBACE "We're going to emerge as a strong, well-positioned, profitable company in the not-too-distant future."
Dow Jones reports that with $2.5 billion of debt, the company filed for Chapter 11 protection on May 3rd and expects to emerge in the last quarter of 2012. One of its first goals is to continue new product development, having fallen behind competing companies after the 2008 financial crisis.
Several holders of the company’s debt have agreed to do a debt for equity swap that will give them control, and they will put up$400 million so Hawker Beechcraft can continue to pay its suppliers. Goldman Sachs Capital Partners and Onex bought the company from Raytheon Co in 2007, and will retain token stakes once the restructuring is completed.
Vick address the issue of a potential leveraged buyout by saying "Do I expect interest from third parties? Yes, there's been interest from third parties," Vick said. "Am I going to be surprised if we're of interest to a variety of people who might view us as a strategic opportunity? No I won't be surprised at all because that's the way the world works." He added “There are always either financial buyers or strategic buyers looking for value opportunities. Anything's possible. To assume anything other than that isn't being realistic."
Safety Or Retribution? The Supreme Court Will Decide The U.S. Supreme Court will hear oral arguments on December 9, 2013 in the case Wisconsin Airlines Corporation v Hoeper. The ca>[...]
I Thought This Should Be Seen... And Said Thought/Opinions/Commentary by Jim Campbell, ANN CEO/Editor-In-Chief Nearly two months ago, ANN covered the fact that the Department of De>[...]
"The U.S. Supreme Court will hear oral arguments on December 9, 2013 in the case Wisconsin Airlines Corporation v Hoeper. The case will have great significance to the flying public>[...]
Will Install Ku-Satellite Technology For International Service The FAA has granted an STC to inflight wireless company Gogo for the installation of its Ku-satellite technology on B>[...]
"(The) successful launch of the NROL-39 mission is a testament to the tremendous government-industry partnership. We greatly appreciate the teamwork with the NRO Office of Space La>[...]