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Judge denies Hawker’s request for jet discount sale

28-11-2012

Responding to an objection from a group of Hawker business jet owners, the judge in Hawker Beechcraft’s bankruptcy case ruled that the company couldn’t sell its remaining inventory of 20 Hawker 4000 jets at a 70-percent markdown. The company wanted to sell the planes at such a deep discount so that they wouldn’t sit and continue losing value, since the company does not plan to keep making the jets once it exits bankruptcy. But the judge noted that Hawker didn’t have any buyers for the jets lined up, and ruled that it didn’t justify the need to sell the jets without court approval first. Hawker has also filed motions to discontinue warranty support for the existing fleets of Hawker 4000, Premier I and Premier IA jets. The company has said previously that it would continue to provide service and support for its jets, even after it stops making them.

http://www.businessweek.com/ap/2012-11-19/hawker-beechcraft-customers-balk-at-inventory-sale

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