Hawker’s jet-unit decision seen before ’13

Hawker Beechcraft Inc., which aims to become a stand-alone company after undergoing Chapter 11 bankruptcy restructuring, will announce a decision on the fate of its business jet segment by year’s end, according to The Wall Street Journal.

Chairman Bill Boisture declined to tell reporters at the National Business Aviation Association conference in Orlando, Fla., on Monday the number of bidders who were interested in the segment before exclusive talks with Superior Aviation Beijing Co. commenced in the summer.

The talks fell through, and the Wichita, Kan.-based plane-maker said Oct. 18 that it would shed the jet business, including halting operations if necessary, and continue with its civilian propeller and turboprop models, in addition to military trainers.

There were about six potential buyers before the exclusive negotiations commenced, according to the Journal.

About 280 people are employed at Hawker’s facility at Little Rock, where its jets are finished out to customer specifications.

All of the prop and turboprop planes are finished out in Wichita.

The company, which will emerge as Beechcraft Corp., will be taken over by creditors who will be given equity for the debt they are owed under an amended restructuring plan, according to papers filed in U.S. Bankruptcy Court for the Southern District of New York. It is currently owned by Goldman Sachs and Onex Corp.