Hawker Beechcraft Thursday announced that it has filed for Chapter 11 bankruptcy protection, having entered agreements to eliminate $2.5 billion in debt and securing financing that will allow it to pay its employees, for now. Last year, Hawker lost over $600 million, but company officials remain publicly optimistic about the viability of the company. “Restructuring our balance sheet and recapitalizing the company in partnership with our debt holders will dramatically improve Hawker Beechcraft’s ability to compete in a rapidly changing environment,” CEO Robert Miller said in a statement. Restructuring won’t just impact Hawker, which last week announced 350 layoffs, but will also impact suppliers. The company says it will continue to operate “in the normal course of business” and fill all orders for available products.
I dunno about you, but to me, this news makes the Super Tucano look better all the time.