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Hub AI
Hawker Beechcraft AI simulator
(@Hawker Beechcraft_simulator)
Hub AI
Hawker Beechcraft AI simulator
(@Hawker Beechcraft_simulator)
Hawker Beechcraft
Hawker Beechcraft Corporation (HBC) was an American aerospace manufacturing company that built the Beechcraft and Hawker business jet lines of aircraft between 2006 and 2013. The company headquarters was in Wichita, Kansas, United States, with maintenance and manufacturing locations worldwide. The history of Hawker Beechcraft originated in 1994 when Raytheon merged its Beech Aircraft Corporation and Raytheon Corporate Jets units.
In 2006, Raytheon sold the company to a consortium of Goldman Sachs and Onex Corporation. This deal left the company with a heavy burden of debt which it struggled to support from the economic crisis of 2008 onwards. In April 2012 it defaulted on interest payments and was in breach of banking covenants; this caused widespread speculation that it would enter bankruptcy.
On May 3, 2012, the company entered bankruptcy, filing voluntary petitions under Chapter 11 in US Bankruptcy Court. The bankruptcy resulted in the company accepting an offer to be purchased by Superior Aviation Beijing. By October 18, 2012, the negotiations for the sale had failed and the company decided to cease jet production and exited bankruptcy on its own on February 19, 2013, under a new name, Beechcraft Corporation.
On February 8, 1980, Beech Aircraft Corporation became a subsidiary of Raytheon. In August 1993, Raytheon Company acquired British Aerospace Corporate Jets (producers of the midsized British Aerospace BAe 125 line) from British Aerospace and renamed the company Raytheon Corporate Jets. In mid-September 1994, Beech Aircraft Corporation and Raytheon Corporate Jets were merged to form Raytheon Aircraft. Raytheon decided to use the Hawker name to show the lineage of the series from Hawker Siddeley and Hawker Aircraft.
In early 2002, Raytheon announced the return of the Hawker and Beechcraft brands after having marketed them as Raytheon aircraft at the National Business Aviation Association annual convention.
Raytheon announced in July 2006 the sale of its aircraft manufacturing business to focus on its core defense-related business. Bidders for the company included The Carlyle Group, Cerberus Capital Management and Onex Corporation.
In October 2006, Raytheon Aircraft Company commenced a US$16.3-million 112,000-square-foot (10,400 m2) facility expansion for Hawker 4000 completion work in Little Rock, Arkansas. The expansion included a new 54,000-square-foot (5,000 m2) hangar bay, as well as extensions to existing buildings to provide additional woodshop, upholstery, sheet metal and storage space.
In March 2007, the purchase of Raytheon Aircraft Company was finalised at US$3.3B. Hawker Beechcraft Inc. was a new company formed by the Canadian investment firm Onex Partners and GS Capital Partners, an affiliate of global finance house Goldman Sachs. It operated under the name Hawker Beechcraft Corporation (HBC).
Hawker Beechcraft
Hawker Beechcraft Corporation (HBC) was an American aerospace manufacturing company that built the Beechcraft and Hawker business jet lines of aircraft between 2006 and 2013. The company headquarters was in Wichita, Kansas, United States, with maintenance and manufacturing locations worldwide. The history of Hawker Beechcraft originated in 1994 when Raytheon merged its Beech Aircraft Corporation and Raytheon Corporate Jets units.
In 2006, Raytheon sold the company to a consortium of Goldman Sachs and Onex Corporation. This deal left the company with a heavy burden of debt which it struggled to support from the economic crisis of 2008 onwards. In April 2012 it defaulted on interest payments and was in breach of banking covenants; this caused widespread speculation that it would enter bankruptcy.
On May 3, 2012, the company entered bankruptcy, filing voluntary petitions under Chapter 11 in US Bankruptcy Court. The bankruptcy resulted in the company accepting an offer to be purchased by Superior Aviation Beijing. By October 18, 2012, the negotiations for the sale had failed and the company decided to cease jet production and exited bankruptcy on its own on February 19, 2013, under a new name, Beechcraft Corporation.
On February 8, 1980, Beech Aircraft Corporation became a subsidiary of Raytheon. In August 1993, Raytheon Company acquired British Aerospace Corporate Jets (producers of the midsized British Aerospace BAe 125 line) from British Aerospace and renamed the company Raytheon Corporate Jets. In mid-September 1994, Beech Aircraft Corporation and Raytheon Corporate Jets were merged to form Raytheon Aircraft. Raytheon decided to use the Hawker name to show the lineage of the series from Hawker Siddeley and Hawker Aircraft.
In early 2002, Raytheon announced the return of the Hawker and Beechcraft brands after having marketed them as Raytheon aircraft at the National Business Aviation Association annual convention.
Raytheon announced in July 2006 the sale of its aircraft manufacturing business to focus on its core defense-related business. Bidders for the company included The Carlyle Group, Cerberus Capital Management and Onex Corporation.
In October 2006, Raytheon Aircraft Company commenced a US$16.3-million 112,000-square-foot (10,400 m2) facility expansion for Hawker 4000 completion work in Little Rock, Arkansas. The expansion included a new 54,000-square-foot (5,000 m2) hangar bay, as well as extensions to existing buildings to provide additional woodshop, upholstery, sheet metal and storage space.
In March 2007, the purchase of Raytheon Aircraft Company was finalised at US$3.3B. Hawker Beechcraft Inc. was a new company formed by the Canadian investment firm Onex Partners and GS Capital Partners, an affiliate of global finance house Goldman Sachs. It operated under the name Hawker Beechcraft Corporation (HBC).