The selling off continues

Wonderful, just wonderful:

Hawker Beechcraft will be sold to Superior Aviation Beijing Co. for $1.79 billion, the company announced on Monday, assuming that a final agreement is worked out over the next 45 days. The transaction will not include the Hawker Beechcraft Defense Co., which produces the T-6 trainer and is developing the AT-6 light attack aircraft.

Superior Aviation Beijing intends to make Hawker Beechcraft its “flagship investment,” the company said in a news release. During the 45-day review period, the companies will negotiate a “definitive agreement,” which would be subject to various regulatory reviews and approval processes both in the U.S. and in China.

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