Hawker Beechcraft defends bonus plan for top execs

AP News
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Posted: Jul 26, 2012 12:44 PM

WICHITA, Kan. (AP) — Hawker Beechcraft is defending its plan to pay more than $5.3 million in bonuses to eight top executives. Company officials say the executives are talented and have much work left to do before the company can emerge from bankruptcy.

The company told the bankruptcy judge in a document filed Thursday — just hours before a hearing — that its executives must continue to pursue a possible company sale to a Chinese firm and a plan for a reorganized standalone company.

The document notes that the company has yet to shut down its business jet operations, which would include closing facilities and cutting the workforce, under the standalone proposal.

The Justice Department's bankruptcy watchdog and the machinists union have filed objections to the bonus plan.