Succeeded by Beechcraft Corporation upon emerging from bankruptcy on February 19, 2013
Headquarters
Wichita, Kansas, United States
Key people
Steve Miller, CEO[1]
Products
General aviation aircraft Business jets
Number of employees
8000 worldwide, 6300 US headquarters[2] (2010)
Parent
Goldman Sachs and Onex Corporation
Website
www.hawkerbeechcraft.com
Hawker Beechcraft Corporation (HBC) was an American aerospace manufacturing company that built the Beechcraft and Hawker business jet lines of aircraft between 2006 and 2013. The company 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.
In 2006, Raytheon sold the company to a consortium of Goldman Sachs and Onex Corporation. This deal left the company with a heavy burden of debt which it struggled to support from the economic crisis of 2008 onwards. In April 2012 it defaulted on interest payments and was in breach of banking covenants; this caused widespread speculation that it would enter bankruptcy.
On May 3, 2012, the company entered bankruptcy, filing voluntary petitions under Chapter 11 in US Bankruptcy Court.[3][4] The bankruptcy resulted in the company accepting an offer to be purchased by Superior Aviation Beijing.[5] By October 18, 2012, the negotiations for the sale had failed and the company decided to cease jet production and exited bankruptcy on its own on February 19, 2013, under a new name, Beechcraft Corporation.[6][7][8][9][10][11][12]
^Cite error: The named reference Niles07FEb12 was invoked but never defined (see the help page).
^Hawker Beechcraft Corporation (2010). "Investor Relations FAQ". Archived from the original on August 18, 2010. Retrieved March 24, 2010.
^"Hawker Beechcraft files Chapter 11 bankruptcy - Local News - Wichita, KS - msnbc.com". MSNBC. March 5, 2012. Retrieved May 3, 2012.[dead link]
^Hawker Beechcraft. "News Release". Archived from the original on May 19, 2012. Retrieved May 4, 2012.
^Grady, Mary (July 9, 2012). "Hawker Beechcraft Agrees To Offer From Chinese Company". AVweb. Retrieved July 14, 2012.
^Spector, Mike (October 18, 2012). "Hawker Sales Talks Collapse Over Review Worries". WSJ.
^"Canada blocks $5.2 billion Petronas bid for Progress Energy". Reuters. October 20, 2012.
^"Hawker Beechcraft Announces Intent to Emerge from Chapter 11 as Standalone Company". Hawker Beechcraft. October 18, 2012. Archived from the original on March 4, 2016. Retrieved October 21, 2012.
^"Hawker Beechcraft sale to Chinese firm collapses". CBS News. October 18, 2012.
^MAROTTE, BERTRAND (October 19, 2012). "Hawker Beechcraft signals an exit from business jet sector Add to ..." Globe and Mail. Toronto.
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