A Grant Aviation King Air taxies at Anchorage International in June 2010. Photo: Chuck Slusarczyk Jr. – OPShots.net //
Beechcraft, formerly Hawker Beechcraft, with headquarters and major manufacturing facilities in Wichita, Kansas, announced on February 19 that it has formally emerged from Chapter 11 after securing long-term financing that ends the bankruptcy process. The company’s Joint Plan of Reorganization was approved by the U.S. Bankruptcy Court for the Southern District of New York on February 1, and became effective on February 15. In accordance with the Plan, Beechcraft exits the restructuring process with a dramatically reduced debt load; $600 million in place for the long-term financing of the company; a stable, restructured balance sheet; and the support of a well-capitalized shareholder base.
via Back In Business: Beechcraft Emerges From Chapter 11 – Forbes.
