Hawker Beechcraft Execs Says They Intend To Fight

The first news conference of the day at the 62nd NBAA Annual Meeting and Convention in Orlando Florida seemed to set the tone. Representatives from Hawker Beechcraft, all wearing navy blue flight suits, gave a military-style briefing to members of the media on their view of the industry's current doldrums, but also expressed optimism about the future of the company, and the industry in general.

"This time last year the forces of economic implosion and government clumsiness combined to drive through our defenses, and those of our industry, and have inflicted significant damage," said Hawker Beechcraft Chairman and CEO Bill Boisture, who was introduced as "Commander." "Our mission today is to counter attack. To launch an all out offensive using weapons ideally suited for the purpose."

"Forward visibility is restricted," Boisture said in his weather brief. "There will be turbulence. There will be hot air from Washington DC."

Bill Boisture

Then, he outlined the "rules of engagement." "If shot down, remain clear of areas populated by bankers, congressmen, or members of the executive branch. At all costs, avoid members of the press who think sensational perk stories are more important than American jobs, and the export trade balance."

One of the issues facing aircraft manufacturers today is the inventory of used airplanes that needs to be sold. The message Boisture wanted to send was "there will be a victory in this mission. It will start when used aircraft pricing matches the bank's view of residual value in their propensity to lend." "People need to travel to where they do business. They're concerned about privacy, time, safety and security. Those things have not changed. The airlines have fallen, and they cannot get up."

The issues faced by Hawker Beechcraft and the rest of the business aviation industry are very real. Boisture said that 30,000 aerospace jobs have been lost nationwide during the recession, 40 percent of those in the Wichita area, representing about 27% of the total Wichita work force.

Hawker Beechcraft CEO Bill Boisture said there are reasons for him to be optimistic. Other companies making presentations to the media Monday also expressed cautious optimism about the future, but most said it would be at least another year, or longer before the industry starts to feel a solid recovery.

FMI: www.hawkerbeechcraft.com, www.nbaa.org