The US Bankruptcy Court for the Southern District of New York has granted Hawker Beechcraft another 120 days to file their plan to emerge from bankruptcy, signing the order on September 4.
Originally, Hawker Beechcraft planned to emerge from bankruptcy before the end of 2012, but the company asked for more time because the best path foward had not become clear.
HB now has until the end of the year before filing the reorganization plan and two months after that for confirmation. That being the case, it could be late February or early March before they emerge from bankruptcy.
The company is thought to be looking at two possible options: a standalone owned by its primary creditors, or under ownership of a third-party, likely Superior Aviation, a Chinese aerospace manufacturer.
Superior signed an agreement with HB in July to negotiate exclusively with HB for the sale of assets. In return, Superior has been providing operating capital for until the deal is settled or abandoned. Read the full story here.