Chinese Aerospace Co. To Pay $1.8B For Hawker Beechcraft

Law360, New York (July 9, 2012, 10:54 PM EDT) -- Bankrupt aircraft manufacturer Hawker Beechcraft Inc. plans to sell its existing jet and general aviation operations to Chinese aerospace manufacturer Superior Aviation Beijing Co. Ltd. for nearly $1.8 billion, the Wichita, Kan.-based firm said Monday.

The deal was negotiated in an exclusivity agreement that would exclude Hawker Beechcraft Defense Co., which would remain separate and keep operating its T-6 trainer program, according to a statement Monday by Hawker Beechcraft.

The deal would allow the foundering aerospace firm a greater access to the Chinese aviation market, which...
To view the full article, register now.