(WICHITA, Kan.) — Hawker Beechcraft Inc, the aircraft manufacturer owned by Goldman Sachs Group Inc's private equity arm and Onex Corp, is preparing to file for bankruptcy protection, according to a report by Reuters.
But a Wichita bankruptcy attorney says it actually could be a good thing for the company. Bill Zimmerman says this information is not a reason to panic. He says it could mean the company is working to ensure it can sustain itself for the future.
Many Hawker employees and former employees have questions about what this move means for their jobs and for the pensions.
The Reuters report quotes people familiar with the matter and says Hawker Beechcraft is negotiating a pre-arraigned bankruptcy with its largest lenders.
“That means they are most likely filing chapter 11 to restructure. It's what Chrysler did and is what American Airlines is doing,” said Wichita Bankruptcy Attorney, Bill Zimmerman.