Beechcraft secures largest propeller order valued at $1.4 billion

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WICHITA, Kansas РBeechcraft Corporation on Thursday announced it has secured an order for up to a total of 105 King Air 350i aircraft, valued at $788 million, from Wheels Up.

It represents one of the largest general aviation propeller driven aircraft order in history.

“Big announcement for our company, huge statement of confidence in the future of our products,” said Bill Boisture, Beechcraft CEO.

Products and services that Boisture says will guarantee his company $1.4 billion dollars.

“This particular offering says that this opens up private air transportation to a very large group of buyers at a much lower price than jet base transportation.”

The contract doesn’t mean new jobs, however, it does mean employee stability.

Stability Boisture believes is sign the economy is slowly bouncing back.

“It may say that this is an adjustment to a less robust economy overall, but a way to put private air transportation access to the Wheels Up members.”

Beechcraft said in a news release that the first 35 planes will be delivered between now and mid-2015 with nine deliveries this year.

The deal includes options for 70 more aircraft as Wheels Up expands over the next two to three years.

Beechcraft Corp., formerly Hawker Beechcraft, emerged in February from bankruptcy protection.

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