WICHITA, Kan. , July 24 /PRNewswire/ -- Hawker Beechcraft Corporation (HBC) announced it has completed the sale of the majority of its wholly owned fuel and line operations to BBA Aviation. BBA Aviation is the world's largest fixed-base operation (FBO) and distribution network. The sale, which was first announced on February 22, 2008 , will allow Hawker Beechcraft Services (HBS) to greater concentrate on its core business -- aircraft maintenance, repair, avionics and modifications -- and invest in the further expansion of its existing service centers.
The transaction includes fuel and line operations at seven domestic U.S. locations in: Atlanta, Ga. ; Houston and San Antonio, Texas ; Indianapolis, Ind .; Tampa, Fla. ; Wichita, Kan. ; and Van Nuys, Ca. Of these, six have been transferred to BBA; with the company expecting final sale of its Van Nuys facility shortly, once the necessary regulatory approvals have been received. HBC will retain its factory-owned HBS maintenance and customer support facilities located at these locations. Operations in Little Rock, Ark. ; Chester, England , U.K.; and Toluca, Mexico will not be affected.
"Completion of this sale allows us to significantly invest in our network of maintenance and service facilities worldwide," said Jim Schuster , HBC chairman and CEO. "We can now achieve our goal of having the absolute best company-owned service center organization in the industry."
With that goal in sight, HBC will begin a major expansion to its aircraft maintenance and services facility in Little Rock, Arkansas with new state-of-the-art facilities planned for Indianapolis, Indiana , and Mesa, Arizona . With the addition of the Mesa facility, HBS will now have 11 service centers located across the U.S., Mexico and the United Kingdom . The HBS network of factory owned world-class service centers provide professional aircraft maintenance and repair with readily available access to its knowledge base of factory expertise and engineering data.
Hawker Beechcraft Corporation is a world-leading manufacturer of business, special-mission and trainer aircraft -- designing, marketing and supporting aviation products and services for businesses, governments and individuals worldwide. The company's headquarters and major facilities are located in Wichita, Kan. , with operations in Salina, Kan. ; Little Rock, Ark. ; and Chester, England , U.K. The company leads the industry with a global network of over 100 factory-owned and authorized service centers. For more information, visit www.hawkerbeechcraft.com.
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including statements that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results may differ significantly from those envisaged by our forward-looking statements. Among the factors that could cause actual results to differ materially from those described or implied in the forward-looking statements are general business and economic conditions, production delays resulting from lack of regulatory certifications and other factors, competition in our existing and future markets, lack of market acceptance of our products and services, the substantial leverage and debt service resulting from our indebtedness, loss or retirement of key executives and other risks disclosed in our filings with the Securities and Exchange Commission.
SOURCE Hawker Beechcraft Corporation