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Bankrupt Hawker Beechcraft Pensions Only 56% Funded
Collectively, Hawker Beechcraft’s three pension plans are only 56% funded, with $769 million in assets to cover $1.4 billion in benefits. If Hawker Beechcraft ended the plans under the bankruptcy, the Pension Benefit Guaranty Corporation of the U.S. Federal government would pay $533 million of the $611 million shortfall. PBGC is the company’s largest creditor. Continue reading
Posted in aviation, financial results, labor issues, news, news analysis, results, transportation
Tagged auto informed, autoinformed.com, automotive news, aviation, bankruptcy, goldman sachs, hawker beechcraft, Ken Zino, onex, pbgc, steve miller
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