Business

December 26, 2012

Hawker reaches pension settlement with government agency

Hawker Beechcraft has reached a settlement with the Pension Benefit Guaranty Corp., allowing for termination of two pension plans and removing the Wichita-based planemaker’s largest impediment to approval of its bankruptcy reorganization.Hawker Beechcraft filed papers in U.S. Bankruptcy Court for the Southern District of New York on Dec. 21 to approve a settlement with the PBGC, allowing termination of the pension plans for salaried workers and non-union workers in the customer-support arm of the business.

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