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Hawker Beechcraft Remains Open During Reorganization
Hawker Beechcraft received federal bankruptcy court approval on Friday to continue operating during the reorganization process that follows the Wichita OEM’s filing for protection under Chapter 11 the previous day. The court decision will allow HBC to continue paying employees and vendors subsequent to the May 3 bankruptcy filing by allowing it access to $400 million in debtor-in-possession financing that was part of a pre-arranged restructuring.
In an interview yesterday, executive v-p Shawn Vick told AIN the company has set up a schedule for payments to vendors and suppliers that will allow the manufacturer to continue producing airplanes, and that “it is our intent to continue to support aircraft on a business-as-usual basis.”
