Hawker Beechcraft Execs Says They Intend To Fight
The first news conference of the day at the 62nd NBAA Annual
Meeting and Convention in Orlando Florida seemed to set the tone.
Representatives from Hawker Beechcraft, all wearing navy blue
flight suits, gave a military-style briefing to members of the
media on their view of the industry's current doldrums, but also
expressed optimism about the future of the company, and the
industry in general.
"This time last year the forces of economic implosion and
government clumsiness combined to drive through our defenses, and
those of our industry, and have inflicted significant damage," said
Hawker Beechcraft Chairman and CEO Bill Boisture, who was
introduced as "Commander." "Our mission today is to counter attack.
To launch an all out offensive using weapons ideally suited for the
purpose."
"Forward visibility is restricted," Boisture said in his weather
brief. "There will be turbulence. There will be hot air from
Washington DC."
Bill Boisture
Then, he outlined the "rules of engagement." "If shot down,
remain clear of areas populated by bankers, congressmen, or members
of the executive branch. At all costs, avoid members of the press
who think sensational perk stories are more important than American
jobs, and the export trade balance."
One of the issues facing aircraft manufacturers today is the
inventory of used airplanes that needs to be sold. The message
Boisture wanted to send was "there will be a victory in this
mission. It will start when used aircraft pricing matches the
bank's view of residual value in their propensity to lend." "People
need to travel to where they do business. They're concerned about
privacy, time, safety and security. Those things have not changed.
The airlines have fallen, and they cannot get up."
The issues faced by Hawker Beechcraft and the rest of the
business aviation industry are very real. Boisture said that 30,000
aerospace jobs have been lost nationwide during the recession, 40
percent of those in the Wichita area, representing about 27% of the
total Wichita work force.
Hawker Beechcraft CEO Bill Boisture said there are reasons for
him to be optimistic. Other companies making presentations to the
media Monday also expressed cautious optimism about the future, but
most said it would be at least another year, or longer before the
industry starts to feel a solid recovery.