in Business Aviation / General Aviation / Business & Finance

Beechcraft joins Cessna under Textron control

Posted 27 December 2013 · Add Comment

Textron, the corporate owner of Cessna aircraft has reached a deal to buy the GA and light jet manufacturer's competitor BeecH Holdings, the manufacturer of Beechcraft aircraft including the top selling King Air family

Reports suggest the deal is worth $1.4 billion.

According to Bloomberg, Beechcraft had revived an auction process a year after its deal to sell itself to a Chinese jetmaker collapsed. It had drawn takeover interest from at least three suitors, including Brazil’s Embraer India’s Mahindra and Textron.
The Financial Times reported Dec. 20 that Textron was close to a deal for Beechcraft. Squeezed by waning private-jet demand and a drop in U.S. arms spending, the former Hawker Beechcraft filed for bankruptcy in May 2012. The Wichita, Kansas-based company left court protection in February 2013 and exited the jet business.
“This creates a broader selection of aircraft and a larger service footprint -- all sharing the same high standards of quality and innovation,” Textron Chairman and CEO Scott C. Donnelly said in the company’s statement.
Beech started business in 1932, and it has supplied training aircraft for military pilots dating to World War II. Beechcraft said it saw a rebound in demand in 2013. According to GAMA, deliveries of multi-engine turboprops rose 42 percent in the first nine months of 2013 from a year earlier and single-engine turboprops were up 10 percent. Piston-engine planes rose 7.9 percent, while business jet shipments fell 2.1 percent.

PICTURED: Beechcraft's King Air family at last year's MEBA show

Other Stories
Advertisement
Latest News

TATV - Newsround Feb 4: Bahrain's boost, Nigeria's plans and Dubai's training magic

The first TATV Newsround programme brings an overview of the main talking points in the news from the aviation, defence and aerospace industry in the emerging markets of the Middle East, Africa and South Asia.

Air Austral operates EVASAN flights between Reunion Island and Paris

Air Austral has obtained technical and regulatory approvals to operate Medical Evacuation flights (EVASAN).

Africa’s best airports for customer experience revealed

ACI Africa has revealed this year’s winners of the Airport Service Quality (ASQ) awards in Africa.

Drones over the desert

Unmanned air vehicles (UAVs) are becoming a key enabler for African military and security forces in combatting terrorism and armed militancy. The expansion in UAV fleets across the continent has not escaped the Sahel, where the Niger

Jomo Kenyatta International Airport adds Indra’s ATC system

Indra has been awarded one of the key projects for the future of air navigation in Africa and will revamp the air traffic control system at Jomo Kenyatta International Airport (JKIA).

Kenya Airways to resume flights to France

National carrier Kenya Airways (KQ) has announced plans to resume direct flights from Nairobi’s Jomo Kenyatta International Airport (JKIA) to Charles De Gaulle (CDG), France. The direct flights are set to restart from 17th March 2021.

EDGE SK2601300621
See us at
Aviation Africa 2021 BTNNAviation MENA 2021WDS BT1202090322DAS21_BT