WICHITA, Kan. (April 13, 2012) – Hawker Beechcraft Acquisition Company, LLC and Hawker Beechcraft Notes Company, both wholly owned subsidiaries of Hawker Beechcraft, Inc., today filed their Annual Report on Form 10-K for the year ended December 31, 2011.
Robert S. (Steve) Miller, CEO of Hawker Beechcraft, Inc., said, “Today’s filing reflects the combined effect of the prolonged weakness in our market that has continued to affect our business and the heavy debt burden the company has operated under since 2007. Hawker Beechcraft continues to work closely with our lenders to restructure the company’s balance sheet, and to do so as quickly as possible. In the coming weeks, we expect to decide on a path forward for Hawker Beechcraft that will include a plan that will put the company on firm financial footing and better position Hawker Beechcraft for the future. As we move forward with this process, we remain steadfast in our commitment to building, selling and servicing the best airplanes for our civilian and military customers.”
Hawker Beechcraft, Inc., the parent company of Hawker Beechcraft Corporation, is a world-leading manufacturer of business, special mission, light attack 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 Little Rock, Ark.; Chester, England, U.K.; and Chihuahua, Mexico. The company leads the industry with a global network of more than 100 factory-owned and authorized service centers. For more information, visit www.hawkerbeechcraft.com.
All statements that are not reported financial results or other historical information are 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. This release includes forward-looking statements including, for example, statements about our business outlook, our liquidity, our products, including the markets in which we operate, and our expectations, beliefs, plans, strategies, objectives, prospects, and assumptions for future events or performance. These forward-looking statements are not guarantees of future performance. 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 also based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by, the 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 the substantial leverage and debt service resulting from the Company’s indebtedness; its ability to successfully complete its restructuring activities; disruption in supply from key vendors; work stoppages at its operations facilities; disruptions to its operations due to its computer system upgrade during the three months ended September 30, 2011, and any impact that such upgrade may have had or may continue to have on our internal controls; general business and economic conditions; lack of market competition in the Company’s existing and future markets; acceptance of its products and services; loss or retirement of key executives; the Company’s ability to attract and retain highly talented professionals; any unfavorable resolution of legal proceedings; and other risks disclosed in the Company’s filings with the Securities and Exchange Commission.