Beechcraft Closer To Sale Of Business Jet Assets

Beechcraft Corp. expects to close a deal on the sale of its idled business jet assets before the end of the year and has received widespread interest for them, a top official said.

WICHITA, Kan. (AP) -- Beechcraft Corp. expects to close a deal on the sale of its idled business jet assets before the end of the year and has received widespread interest for them, a top official said.

"The interest has been worldwide," said Beechcraft CEO Bill Boisture. "There have been international, U.S. and local interest in these assets."

The Wichita Eagle (http://bit.ly/143hcHt) reported that potential buyers are now doing their "due diligence," a process with a fairly short time frame on it.

"Then there will be some negotiation and an eventual decision to sell to one party or another," Boisture said.

Beechcraft shut down its business jet manufacturing as it reorganized during Chapter 11 bankruptcy, opting instead to focus on its more profitable King Air, Baron, Bonanza, military and other businesses.

The company then put one of its Wichita buildings, equipment, the Hawker 4000 and Premier type certificates, and the lease on its Little Rock completions facility on the market.

Type certificates for the Hawker 400 series and Hawker 700/800/900 series jets are not for sale because they are a core part of Beechcraft's aftermarket business, the company has said.

Potential buyers have a variety of ideas about how to use the composite manufacturing capabilities of Plant III in Wichita is on the market, Boisture said.

The company said it will evaluate bids based on price and on the party's ability to close the deal.

"We appreciate the interest in these assets," Boisture said. "There will be some transitional phases that we'll have to go into to support their acquisition of those assets."


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