Production of the Hawker 400 XP light business jet is suspended for the next two years due to the economy. Bill Boisture, the CEO of Hawker Beechcraft, said the market will remain depressed for 12 to 24 months.
Boisture made the announcement during a conference call with industry analysts. He also confirmed that Hawker Beechcraft has an offer from Louisiana to move most of its manufacturing facilities there. However, he said the company is still evaluating the offer and will announce a decision in coming months. The current union contract runs out in August of 2011.
There was also an offer from Kansas to keep manufacturing in Wichita, but that depended on approval by the union. The union rejected the deal a few weeks ago. Boisture said he has no plans to reopen talks with the union.