Saturday, May 5, 2012

Debt, not market, drove plane maker to bankruptcy - The Finance ...

on May 4, 2012 9:11 pm in Business News / no comments

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This Jan. 2011 photo shows Hawker Beechcraft employees in Wichita, Kansas working on the Hawker 4000 jet. The aircraft maker filed for bankruptcy protection Thursday, May 3, 2012 after reaching agreement with the majority of its secured lenders and bondholders to restructure its massive debt. (AP Photo/The Wichita Eagle/Kansas.com, Molly McMillin)Economic turbulence has shrunk the market for business jets, and it's causing an especially bumpy ride for Hawker Beechcraft.

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