Aviation

August 30, 2012

Lawyer: Hawker Making ‘Significant Progress’ in 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 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 Beechcraft executives 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 Thursday in U.S. Bankruptcy Court in Manhattan. “We continue to make significant progress on very complex business and legal issues.”

Nash said Hawker Beechcraft 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.

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