Press Release

Issued by Beechcraft Textron Aviation.

May 4, 2012

Hawker Beechcraft, Inc. today announced that the U.S. Bankruptcy Court for the Southern District of New York has granted approval of the company's "First Day Motions" as part of the company's voluntary filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Approval of these motions will enable Hawker Beechcraft to continue to operate in the ordinary course of business during the reorganization process.

Among the first-day motions granted today, Hawker Beechcraft received approval to continue to pay employees, and to pay all vendors and suppliers in the ordinary course for goods and services delivered after the commencement of the Chapter 11 case. The company will utilize a commitment for $400 million in Debtor-in-Possession (DIP) financing, negotiated as part of the prearranged restructuring, to meet these obligations.

Hawker Beechcraft's cases are being presided over by the Honorable Judge Stuart Bernstein of the U.S. Bankruptcy Court for the Southern District of New York. Hawker Beechcraft's jointly administered case number is Hawker Beechcraft Inc., 12-11873.

On May 3, 2012, Hawker Beechcraft, Inc. and a significant number of its senior secured lenders and senior bondholders agreed to the terms of a financial restructuring plan that will eliminate approximately $2.5 billion in debt and approximately $125 million of annual cash interest expense and strengthen the company for the future.

The company's legal representative is Kirkland & Ellis LLP, its financial advisor is Perella Weinberg Partners LP, and its restructuring advisor is Alvarez & Marsal.