Hawker Beechcraft Customers Balk At Rush To Liquidate Plane Inventory

By: AP (Posted by Melissa Brunner)
By: AP (Posted by Melissa Brunner)

WICHITA, Kan. (AP) _ A bankruptcy judge has sided with a group of Hawker Beechcraft customers who objected to the Kansas aircraft maker's plan to immediately sell off its inventory of discontinued Hawker 4000 jets.

Hawker Beechcraft wanted to sell the inventory quickly because it believes the value of the discontinued planes will continue declining as competitors introduce new aircraft.

The Committee of Hawker 4000 Customers argued in a court filing Monday that the 20 aircraft normally retail at about $20 million, amounting to $400 million. The customers argued there's no reason to rush the sale of assets.

U.S. Bankruptcy Judge Stuart Bernstein cited the committee's objection in rejecting the company's request.

The judge says Hawker Beechcraft failed to identify any imminent sales or explain how the failure to obtain an expedited hearing will affect sales.

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