July 17, 2012
Bankrupt aircraft maker Hawker Beechcraft said a US bankruptcy court approved its plans to enter into exclusive talks with China's Superior Aviation Beijing over a sale of the company for USD$1.79 billion.
The company, owned by Goldman Sachs and Onex, said the approval gives the company up to 45 days to negotiate the deal with Superior Aviation.
Last week, Hawker Beechcraft said Superior Aviation would provide financial support to the company's jet operations over the next six weeks.
Superior will pay USD$25 million before the end of the week, apart from paying a similar amount within the next 30 days, Hawker Beechcraft said in a statement.
