September 6, 2012
Hawker Beechcraft Corp. is closing in on a purchase agreement for its civil aviation business with Superior Aviation Beijing Co. Ltd.
In an interview with Flightglobal that took place Wednesday, company Chairman Bill Bositure said the purchase agreement “is going to happen in the next few days.”
He acknowledged that other bidders could still emerge as part of the court-ordered public auction that will take place as part of Hawker’s bankruptcy proceedings.
The Wichita planemaker filed for Chapter 11 bankruptcy protection in May.
Hawker has been working with Superior on a potential $1.79 billion sale of its business jet and general aviation operations.
The deal would not include Hawker’s defense business.
Boisture said the defense business, should the rest of the company be sold, would initially be owned by the company’s primary lenders. But, he added, that would likely be sold eventually as well.
“Like all other investment entities, at some point they will seek to monetize their investment,” he said.