Hawker Beechcraft Awarded $48 Million Defense Contract for Six King Air 350 Turboprops

The contract is for six modified Beechcraft King Air 350 turboprops to replace six of their current UC-12 aircraft.
July 18, 2008
3 min read

WICHITA, Kan. (July 18, 2008) – Hawker Beechcraft Corporation (HBC) is pleased to announce it has been awarded a defense contract by the United States Marine Corps (USMC) with an estimated value of $48 million. The contract is for six modified Beechcraft King Air 350 turboprops to replace six of their current UC-12 aircraft. The Beechcraft King Air family, which has been in USMC service for more than 20 years, is the world’s best selling turboprop line of all time and the King Air 350 is the flagship aircraft in the line. Included in the contract are options allowing for replacement of the remaining UC-12 aircraft in their fleet. The contract comes as part of the fiscal 2007 and 2008 defense bills passed by Congress.

“We are honored to have received this contract and proud to continue manufacturing aircraft for the United States Marine Corps,” said Jim Schuster, HBC chairman & CEO. “We appreciate the support from the Kansas Delegation for this important contract as these aircraft will provide operational support to our troops. We are grateful for our Congressional delegation’s hard work in supporting the Kansas aviation industry.”

The versatile King Air 350 is the largest of the King Air series. Because of its incredible capabilities, the aircraft is ideal for military use. A modified version of the King Air 350 with cargo doors and military required equipment will be replacing the venerable, but aging fleet. The newer aircraft will also provide the USMC with advanced technology and greater reliability. Deliveries are expected to begin in 2010.

The current UC-12 aircraft are military transport versions of the Beechcraft King Air 200, which have been providing urgent intra-theater transport of high priority cargo/passengers to the USMC for the last 20 years.

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.

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