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).

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