Hawker Beechcraft struggles in depressed aircraft market

diggertwo

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http://www.pilotbug.com/?p=661

Hawker Beechcraft continues to have trouble in the declining market for aircraft sales and repeatedly stated that it is very concerned with liquidity issues as they face the most difficult aviation downturn in recent memory.

According to its 2009 2Q earnings conference call, Hawker Beechcraft’s deliveries are uncertain because customers are having trouble obtaining financing to purchase aircraft or are concerned about the climate in which they will be taking delivery. Concerns about the company’s liquidity position make it necessary to conserve cash and cut costs. Because of this, Hawker Beechcraft has been forced to cut employment by 25% and further action will be necessary “in the weeks ahead” according to CEO Bill Boisture.

CFO Sid Anderson stated that NetJets canceled orders for 12 aircraft and will defer the remaining aircraft for this year and the remainder of next year. The manufacturers problems also are being challenged by the large number of used aircraft on the market creating conditions that depress sales as well as to lower prices.
 

glasspilot

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From what I hear management needs a union. Didn't NJ just shed a TON of upper management?

Just say'in... (Jon Stewart referance)


wink
 

netjetwife

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Actually, I think the number is only 3 so far, including RTS who recently resigned, but the new CEO is currently assessing the situation and NJ folks are expecting to see further cuts on the management side.

Executives usually have generous contracts with golden parachutes attached so as a group I think they're better prepared than many pilots to weather the storm..... in case you were concerned, Glass. :cool:
 

jonjuan

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From what I hear management needs a union. Didn't NJ just shed a TON of upper management?

Just say'in... (Jon Stewart referance)


wink

No kidding. Friday will be interesting.
 

jonjuan

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Actually, I think the number is only 3 so far, including RTS who recently resigned, but the new CEO is currently assessing the situation and NJ folks are expecting to see further cuts on the management side.

Executives usually have generous contracts with golden parachutes attached so as a group I think they're better prepared than many pilots to weather the storm..... in case you were concerned, Glass. :cool:

Glass-she called you out. She thinks her boys are better off than yours as she implied that her pilots have golden parachutes to weather the storm.
 

netjetwife

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How did you get that from my post discussing upper level managers...:confused:

The only thing you can correctly claim I implied is a personal lack of concern for the over-paid executives that were justifiably fired. I mentioned pilots, thinking of those at NJ that face the risk of being furloughed--through no fault of their own.

BTW, I used the "cool" face in response to Glass's "wink". I was teasing him for being "concerned" for executives that make many times his pay. It was a friendly gesture, JJ. If you're also kidding, I recommend the use of helpful emoticons to get your intent across.
 

brokeflyer

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jonjuan sometimes dont quite "get it"....

Pictures for the bigger words folks....
 

Guitar Guy

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For all of the Hawker Beechcraft employees, good luck with "Dollar Bill" Boisture. For those who've not heard about H B hiring Moisture earlier this year, here's an article for you: Reuters

There weren't too many tears shed when he scurried away from NetJets.
 

netjetwife

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Hello, Guitar Guy...:) Posting the background info is a good idea. I concur with dry eyes. Looking back, I even recall loud cheers when the gloom lifted as he moved on. Yes, good luck to the HB workforce!
 

RNObased

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For all of the Hawker Beechcraft employees, good luck with "Dollar Bill" Boisture. For those who've not heard about H B hiring Moisture earlier this year, here's an article for you: Reuters

There weren't too many tears shed when he scurried away from NetJets.

I think all the NJA pilots need to thank Billy Boy. I think he did more to pull the group together then any one thing. He was disliked by everyone who came in contact with him.

The day he was hired I was sitting in the crew lounge in Signature SFO, the announcement comes out and a private Gulfstream crew over hears me talking about him. The Capt on the Gee whiz had worked for Gulfstream in SAV at one point, when Billy Boy was running that show into the ground. I haven't forgot his exact words, "I'm sorry, he is not one of the good ones" Boy, did he hit that nail on the head.

I do miss pushing his buttons in company re-current and watching him turn red, purple and orange.

I'm sorry Hawker Beechcraft employees, this guy is bad news.
 

SCT

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It seems like the Hawker 4000 program was a nightmare.
 
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