WICHITA, Kan. (Feb. 22, 2008) – Hawker Beechcraft Corporation (HBC), the world’s leading business, special-mission and trainer aircraft manufacturer, today announced that it has signed a definitive agreement to sell its wholly owned fuel and line operations to BBA Aviation for $128.5 million. BBA Aviation is the world’s largest fixed-base operation (FBO) and distribution network.
“HBC’s objective was to find a partner who will build upon Hawker Beechcraft Services’ successful track record in the fuel and line business, who has a strong reputation for the quality of their products and services, and who holds longstanding customer relationships. We believe we have found that partner in BBA Aviation,” said Jim Schuster, Chairman and CEO of Hawker Beechcraft Corporation.
The transaction includes fuel and line operations at seven domestic U.S. locations in: Atlanta, Georgia; Houston and San Antonio, Texas; Indianapolis, Indiana; Tampa, Florida; Van Nuys, California; and Wichita, Kansas. HBC will retain its factory-owned HBS maintenance and customer support facilities collocated at these locations. Operations in Little Rock, Arkansas; Chester, England, U.K.; and Toluca, Mexico will not be affected.
“The sale of the fuel and line operations will allow us to build on our core business strategy of investing in and growing our Hawker Beechcraft factory-owned service center network. Our goal is to have absolutely the best company-owned service centers in the industry, providing the finest service and support our customers deserve and expect,” added Schuster.
The sale, which is subject to customary conditions, as well as regulatory and certain third party approvals, is expected to close in May 2008.
HBC announced on November 2, 2007 that it was exploring the possible divestiture of its domestic U.S. fuel and line operations. New opportunities will be available to fuel and line employees as a result of being part of a larger flight support network within BBA Aviation.
Hawker Beechcraft Corporation is the world’s leading business, special-mission and trainer aircraft manufacturer – 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, Kansas, with operations in Salina, Kansas; Little Rock, Arkansas; and Chester, England, U.K. The company leads the industry with a global network of over 100 factory-owned and authorized service centers.