NetJets Cancels Large Hawker Beechcraft Order

Wichita-based Hawker Beechcraft announced yesterday that NetJets has canceled its order for "a significant number" of aircraft that were to have been delivered over several years, starting in 2011. The cancellations, which represent about 90 percent of NetJets' orders with Hawker Beechcraft, reduce the manufacturer's backlog by approximately $2.6 billion. The company said it expected to finish 2009 with an operating loss of between $725 million and $740 million and that it "continues to expect depressed demand in the near term."