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Hawker Beechcraft reports losses of $632.8 Million
Hawker Beechcraft sustained staggering losses in 2011, and is working on a "path forward” to put the company on firm financial footing. As expected, Hawker Beechcraft posted losses of $632.8 million last year and sales of $2.44 billion, the company said in a filing with the Securities and Exchange Commission
this month. That compares with sales of $2.8 billion in 2010 and losses of $304.9 million.
Hawker Beechcraft has "substantial indebtedness,” it said, which totaled $2.33 billion on Dec. 31.
The company also has issued $51.2 million in letters of credit and, in March, borrowed an additional $124.5 million to fund ongoing operations.
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