Beechcraft Corporation Emerges From Bankruptcy
A leaner and financially fit Beechcraft Corporation has emerged from bankruptcy protection with an eye to launching new products and supporting the existing fleet. In a podcast interview with AVweb in advance of today's announcement, Beechcraft spokesman Shawn Vick said the new company has more than $600 million in capital to work with and encouraging signs from the market that its chosen path to future profitability is being met with optimism. "We are moving into the market as Beechcraft Corporation and expect 2013 to be a very good year for this business," he said.
Beechcraft will continue to produce the King Air line, the T-6 and AT-6 military aircraft and the piston-powered Bonanza and Baron models. It has ended production of pure jet-powered aircraft but will continue to support the existing fleet. Vick said almost a third of the 6,000 employees are kept busy in that role. He also said the company is now in the position to entertain offers from others who might want all or part of that business. Vick said feedback from the company's announcement that it would consider building a turboprop single is being analyzed and as the company moves toward profitability it will consider other new products.
The newly reorganized Beechcraft has also released a statement in PDF format.