Tuesday, November 27, 2012

Hawker Beechcraft Corp. has filed a request with the U.S. Bankruptcy Court seeking to extend the terms of its $400 million debtor-in-possession financing.

The company is asking to extend the loan to Feb. 28, 2013, to allow it to emerge from bankruptcy in the first quarter of next year. The loan was originally scheduled to be terminated on Dec. 15.

Hawker had been pursuing a possible sale of its civil aircraft business to Superior Aviation Beijing Co. Ltd., but after those talks collapsed the company announced last month its plans to emerge from bankruptcy as a standalone company.
The company’s challenges in October weren’t limited to its dealmaking.

According to an operating update Hawker filed with the court Monday, it had a net loss of $44.1 million in October.

That included an operating loss of $25.2 million.