Hawker Making Progress in Sale Talks With Superior

Hawker Beechcraft Inc., the bankrupt business-jet maker, is making “significant progress” in completing an agreement for a sale to Superior Aviation Beijing Co., a Hawker attorney said.

Hawker said in July that Superior agreed to acquire Hawker for $1.79 billion, subject to higher bids at an auction.

“We continue to work around the clock with Superior,” Patrick Nash, an attorney for Hawker, said at a hearing today in U.S. Bankruptcy Court in Manhattan. “We continue to make significant progress on very complex business and legal issues.”

Nash said Wichita, Kansas-based Hawker hopes to file within a week the agreement with Superior and a revised bankruptcy plan. The deal with Superior won’t include Hawker Beechcraft Defense Co., Hawker has said.

The case is In re Hawker Beechcraft Inc., 12-11873, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

To contact the reporter on this story: David McLaughlin in New York at dmclaughlin9@bloomberg.net

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.