Investors detest the thought of losing money. So one has to wonder what the future holds for struggling Hawker Beechcraft. Investment bank Goldman Sachs and Canadian buyout firm Onex Corp. paid a top-of-the-market price of $3.3 billion in 2007 to acquire the builder of business jets and general aviation and military turboprops from Raytheon. But a collapse in demand for business jets the following year created a flood of red ink that has yet to be stanched, despite progress in cutting costs and improving efficiency. Since 2009, Wichita-based Hawker has posted cumulative operating losses of nearly $1 billion, including $42 million in the quarter ended Sept. 30. And Hawker's core market—business jets—is not expected to rebound soon. "We are preparing for a 2012 that looks a lot like 2011 that looks a lot like 2010," Chairman and CEO Bill Boisture said in a Nov. 1 earnings call (though Hawker is not public, it discloses earnings because its debt is publicly traded).
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