- February 25, 2013
- Posted by: Richard Feinberg
- Category: News
Nearly one year after filing for Chapter 11 bankruptcy, the former Hawker Beechcraft has emerged from their debt restructuring as a once again profitable company. Now known as Beechcraft, the new aircraft maker is soaring into new endeavors.
Sky High Expectations
Once the name of luxury in personal aircrafts, Beechcraft hit hard times as the drop for personal planes took a hit from the recession. Carrying a $2.5 million debt load into their filing meant big changes needed to be made to recoup losses and avoid further risk to employee compensation.
The last year of bankruptcy efforts have paid off for Beechcraft, as they are now emerging with much of their debt resolved and freed from unprofitable business jet operations. Focusing on turboprop, piston aircraft and “light air support” military endeavors have the company slim and strong for the coming future for business.