WICHITA, Kansas — Hawker Beechcraft is no more. The company is now known as Beechcraft, and has formally emerged from Chapter 11 bankruptcy.
The company’s plan was approved by the U.S. Bankruptcy Court for the Southern District of New York on February 1 and became effective on February 15, 2013.
Beechcraft exits the restructuring process with a reduced debt load, a stable restructured balance sheet and the support of a well-capitalized shareholder base.
“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.
Re-posted from http://www.ksn.com/news/local/story/Beechcraft-announces-conclusion-to-Chapter-11/BZHOqe2cdU2aIEwJ4dQRAw.cspx