Manufacturers supporting Hawker Beechcraft aircraft, like the King Air, Baron or Bonanza, will want to track the company’s developments over the next few weeks. Reuters is reporting that Hawker Beechcraft is preparing to file for bankruptcy protection in the next few weeks. This could present an opportunity for the members of the PMA community who are supporting these general aviation aircraft.
According to the report, Hawker is negotiating a prearranged bankruptcy with its largest lenders, which include Centerbridge Partners, Angelo Gordon and Capital Research & Management.
Bloomberg News had reported yesterday that Hawker had struck a deal with lenders that would have provided it with a $120 million loan as it negotiated with creditors to avoid default.
Hawker had been purchased by Goldman Sachs Group Inc’s private equity arm and Onex Corp. (another private equity firm) in 2007 for $3.3 billion.
Some MARPA members will want to examine the lists of Hawker Beechcraft parts that have already been PMAed.
MARPA members doing business with Hawker may want to consult with a bankruptcy attorney concerning strategies for protecting any extensions of credit, as well as for protecting recent payments from claims of preference.