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Beechcraft Secures Funding for Future Aircraft Development

Gemini Sparkle

Key Takeaways:

  • Hawker Beechcraft will exit bankruptcy by discontinuing its jet product portfolio and focusing on a line of revitalized piston and turboprop models, including a new Pratt & Whitney-powered turboprop single.
  • The company will emerge as a standalone entity under the Beechcraft name, controlled by four secured creditors who have pledged funding for new aircraft development and "alternative fuel" engines for models like the Bonanza and Baron.
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After Hawker Beechcraft last week revealed plans to resuscitate its ailing business by shedding its jet product portfolio and focusing on a line of revitalized piston and turboprop models, a big unanswered question centered on where the bankrupt company would find the funding to develop and certify not just one but as many as four new airplanes.

Now we have an answer. According to insiders, Hawker Beechcraft’s new owners have pledged the money the manufacturer will need to launch one new piston model and perhaps as many as three new turboprop models in the coming years. The first of these could be a Pratt & Whitney-powered turboprop single based on the composite fuselage of the Premier I light business jet, the company revealed.

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