Hawker Beechcraft has announced that it has emerged from Chapter 11 bankruptcy protection.
The company’s Joint Plan of Reorganization was approved by the U.S. Bankruptcy Court for the Southern District of New York on 1 February, and became effective on 15 February.
In a statement released on last week, Bill Boisture, Chief Executive Officer of Beechcraft, said, “Beechcraft has emerged from this process a stronger company with both financial and operational strength and stability. We have a strong line of versatile and globally renowned products like the King Air turboprop and the T-6 military trainer aircraft, and the largest global customer support network in the industry.”
The organisation now exists under the new name of Beechcraft and will continue to launch new products, despite ceasing to produce jet aircraft.