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

* required field

Post a comment

Other Stories
Latest News

Aerosud Aviation in partnership with DB Schenker South Africa

Aerosud Aviation has selected DB Schenker South Africa as its new logistics partner.

Africa's first "civil" C295 begins humanitarian operations from Kenya

DAC Aviation International has received the first Airbus C295 to be used on the civil registry in Africa,

Angola orders C295s for maritime surveillance

Angola has ordered three C295 transport aircraft from Airbus Defence and Space, writes Jon Lake.

Inmarsat and Panasonic Avionics in strategic collaboration for Commercial Aviation

Inmarsat and Panasonic Avionics Corporation (Panasonic) have agreed a strategic collaboration, for an initial ten-year period, that enables them to combine their highly complementary market leading services to offer broadband

AAD: Helix – the manned ISR platform

CADG chose AAD to launch its new manned intelligence, surveillance, and reconnaissance (ISR) platform – Helix.

AAD: Aurecon bringing its African ideas to life

Aurecon was at AAD for the first time to highlight its engineering capabilities and products. “We want to become a true African business,” explained managing director, Africa, Ferdi Nell.

TAA SK1009311218
See us at
AirCargoAFA_BT220318210219AAD2018 BTMarrakechAirshow BT2507241018AviationAfrica_BT0607280219