Aircraft maker Hawker Beechcraft announced Monday that it had reached a $1.79 billion “exclusivity agreement” with a Chinese aerospace manufacturer for the sale of its business jet and general aviation operations.
Under the agreement Beijing-based aerospace manufacturer Superior Aviation Beijing will buy Hawker Beechcraft and make payments over the next six weeks to support ongoing operations until the deal is finalized.
The sale does not include Hawker Beechcraft Defense Company, which will remain a separate entity.
Aircraft maker Hawker Beechcraft is narrowing in on potential buyers as part of its plan to emerge from bankruptcy reorganization.
The company disclosed in court documents that along with its investment banker, Hawker Beechcraft developed a list of potential buyers and investors over several months ahead of its May 3rd filing for Chapter 11.
Kansas officials and Airbus Americas Chair Allan McArtor Tuesday announced a partnership intended to grow the state’s aviation industry by increasing contact with local aircraft suppliers.
In a conference call with reporters Airbus’ Allan McArtor along with Senator Jerry Moran and representatives from the City of Wichita announced the Air Capital Supplier Summit will be held in the city later this summer.
McArtor said Airbus currently supports about 210,000 manufacturing jobs in the US and spends about $12 billion dollars a year on components and services.