WICHITA, Kan. , Feb. 12 /PRNewswire/ -- Hawker Beechcraft Acquisition Company, LLC (HBAC) reported net sales of
2008 net sales were significantly impacted by the four-week strike by the International Association of Machinists (IAM) in August. The strike disrupted manufacturing and assembly operations, which significantly reduced aircraft deliveries for the remainder of the year. During 2008, the Company delivered 441 business and general aviation aircraft, consisting of 160 business jet, 178 turboprop and 103 piston aircraft. Additional detail regarding 2008 aircraft deliveries is included in the Appendix. The strike also impacted sales volume in the Trainer Aircraft segment as discussed further in Segment Results.
Operating income for the year was also impacted by the reduced deliveries as a result of the strike. The strike resulted in lower Business and General Aviation segment aircraft deliveries and reduced production in the Trainer Aircraft segment, impacting overall operating income. Also included in 2008 results were charges of
The Company recorded a net after-tax loss for the year of
Operating cash flow consumed during the 12 months ending Dec. 31, 2008 , was
On Dec. 31, 2008 , the Company had
Net bookings for the year were
In response to weakness in the global economy and anticipated reduced aircraft production rates, the Company reduced its workforce by approximately 500 workers in November 2008 and, in early 2009, announced another 2,300 reductions to be completed by the end of the year. These reductions will decrease operating costs in 2009; however, the impact on the Company's 2008 results was not significant.
Business and General Aviation Aircraft
The Business and General Aviation segment recorded sales of
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