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Boeing Frontiers
March 2004
Volume 02, Issue 10
Boeing Frontiers
Around Boeing



Boeing Capital Corporation and Corporate Recovery Group LLC last month filed a joint reorganization plan for bankrupt Hawaiian Airlines that would reinstate the company's former top executive and recapitalize the airline.

Under the plan, former Hawaiian Airlines CEO Bruce R. Nobles would return to the helm of the carrier, and CRG's group would invest $30 million of committed equity to recapitalize Hawaiian and fund its operations. Large unsecured claims from creditors would be settled in the form of subordinated notes and warrants to acquire common stock in the new company, plus distributions from a litigation trust. Small unsecured claims would receive a cash distribution equal to 50 percent of their claims. Existing equity in Hawaiian Airlines Inc. would be cancelled.

a Titan IV B rocket launching

Boeing IUS completes final mission

The Boeing Inertial Upper Stage completed its final mission on Feb. 14 when a Titan IV B rocket launched from Cape Canaveral Air Force Station, Fla. The rocket carried IUS-10 and its integrated DSP-22 satellite payload for the U.S. Air Force Defense Support Program. The Defense Support Program is a satellite surveillance system that provides ballistic missile early warning and other information related to missile launches, surveillance and the detonation of nuclear weapons. A Titan IV payload fairing, made by Boeing Integrated Defense Systems in Huntington Beach, Calif., also was used. The Air Force Association recently honored the Boeing IUS team for its significant contributions to the advancement of U.S. Air Force space activities in the last 50 years.

The plan is subject to approval by the U.S. Bankruptcy Court and by the airline's creditors.

"It is in the best interests of the airline's passengers, employees and creditors to see Hawaiian effectively and promptly reorganized," said Nobles, who led the carrier through Chapter 11 bankruptcy and initiated the airline's turnaround before leaving Hawaiian in 1997. "This airline has enormous potential for a secure, successful future."

Boeing Capital is among Hawaiian Airlines' largest creditors. It has 11 Boeing 717s and three Boeing 767-300s under long-term leases to the airline.


Boeing Air Traffic Management President John B. Hayhurst will retire April 1 after 33 years with the company.

Hayhurst, 56, who estimates he has logged almost four million miles in the air since joining Boeing in 1969, told employees he is at a point in his life where he would like to travel a lot less, spend more time with his family, and pursue personal interests.

"My experience at ATM has been one of the most exciting of my career," said Hayhurst, who has led the business unit since its November 2000 inception. "I thank the ATM team, as well as the countless others at Boeing I've worked with over the years. I believe that ATM will play an important role enhancing the capacity and safety of the world's airspace."

Among the notable achievements in ATM's existence, Hayhurst cited the Working Together Team that brought together more than 100 aviation stakeholders worldwide to determine the requirements for a next-generation, global air traffic system. He also noted the successful flight tests conducted last year in partnership with the FAA to demonstrate Boeing's network-enabled concept, as well as last July's agreement with Europe's Air Traffic Alliance (EADS, Airbus and Thales) to cooperate on global air traffic issues.


The Boeing Integrated Defense Systems Delta rocket program celebrated on Feb. 14 the 15th anniversary of the first Delta II mission.

The most recent Delta II successes are NASA's Spirit and Opportunity rovers on Mars that Delta II rockets launched into space last year.

An extensive legacy of successful launches makes the Delta II the industry's preferred launch vehicle in its class. The 301st customer payload, a GPS satellite, was launched on Dec. 21, 2003.

The Delta II serves the launch needs of NASA, the U.S. Air Force, U.S. government agencies and commercial customers. It can deploy spacecraft to low Earth orbit, geosynchronous transfer orbit, or deep space.


The CH-47 program delivered the ninth of 12 modernized D-model Chinooks to the Egyptian air force during a Feb. 10 ceremony in Philadelphia. The aircraft, upgraded from a C-model, also marked Boeing's first Chinook delivery of 2004. Boeing will deliver Egypt's three remaining Chinooks by May and five aircraft to the U.S. Army by year's end.

Maj. Gen. Mohamed Nasr, EAF chief of U.S. weapon procurement, and Col. Tim Crosby, U.S. Army Cargo Helicopter program manager, recognized the employees who build and maintain the world's Chinook fleets.

"Stand proud that you are supporting our soldiers with these helicopters," Crosby said. "You may not receive the letters of appreciation from the field, but I do. Believe me, our soldiers are proud of the equipment you've provided them."

The EAF has flown Chinooks since 1980 and currently operates a fleet of 19 aircraft, including three CH-47Cs, which may be modernized at a later date. Egypt operates the largest air force in the Arab world.


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