Buyers Show Interest In Hawker Assets
Hawker Beechcraft is considering all options as it recovers from Chapter 11 bankruptcy, including a sale of the company, according to a recent report in the Wichita Eagle. "Depending on what [offers] we get, this case could become even more interesting," lawyer Patrick Nash Jr. told a federal bankruptcy court last month, noting that there has been considerable interest in a sale. Executives at Textron (Cessna's parent company) and Embraer have expressed interest in Hawker's assets, according to the Eagle. Bids were due to the bankruptcy court by the end of last week, but they have not been made public.
Hawker must file a restructuring plan with the bankruptcy court by the end of this month. Company officials have said they expect the company to emerge intact from the bankruptcy process within six months. "But as is the case with every other company, we must evaluate all of our options in order to be positioned for the future," Hawker spokeswoman Nicole Alexander said last month. The company lost over $600 million in 2011, and has been struggling with a heavy debt load. CEO Robert Miller said the reorganization will make Hawker a more competitive company.