d more than two-thirds of its biggest secured lenders and bondholders have agreed to the plan, which calls for about $2.5 billion in debt and almost $125 million in annual cash interest expenses to be eliminated. The company also said it had obtained a commitment for $400 million in financing that will enable it to continue paying employees, venders and others. It said all orders will be fulfilled and service to customers will be uninterrupted. The company employs some 7,400 people, with roughly 4,700 working at its Wichita facility. It also has factories in Little Rock, Ark., Britain and Mexico, as well as more than 100 service centers worldwide. Hawker Beechcraft Corp., which is owned by Onex Partners and GS Capital Partners, a Goldman Sachs private equity fund, has struggled with tepid demand for its military planes and business jets over the past few years. "We are pleased to have reached an agreement with our largest lenders and bondholders on a solution to stabilize and improve our capital structure," Robert Miller, CEO of Hawker Beechcraft Inc., which is the parent company of Hawker Beechcraft Corp., said in a statement. "In the last three years, the company has made aggressive transformational changes in all operational functions, and today's announcement represents the next step forward." Wichita, the self-proclaimed "Air Capital of the World," is the home of major manufacturing plants not only for Hawker Beechcraft but also for Boeing, Spirit AeroSystems, Cessna, Bombardier and more than a hundred smaller aircraft suppliers. But the industry has struggled in recent years. Thousands of aircraft workers here have lost their jobs since the Great Recession, http://www.cheaptomsoutlet0.com - toms sale , which pummeled plane sales, http://www.cheaptomsoutlet0.com - toms shoes reviews . Another blow came earlier this year when Boeing announced it was closing its defense plant in Wichita. "Hawker Beechcraft has a long and significant history in Wichita and is a critical part of our state's aerospace cluster," Gov. Sam Brownback said in a statement. "Preserving jobs in Wichita and safeguarding the state's investment are our priorities. We will be working closely with the company's leaders during this restructuring process." Bankruptcy court records show 18 Hawker Beechcraft entities filed for Chapter 11 protection. The filing shows some 25,000 to 50, http://www.cheaptomsoutlet0.com - toms the shoes ,000 creditors with estimated assets and liabilities of more than $1 billion. Listed first among Hawker Beechcraft's biggest creditors is the company's pension benefit fund, although the filing did not specify a figure for it. The company told employees on its website that it was possible it might have to end the pension plan to obtain financing to exit bankruptcy. If so, the plan would be taken over by the federal Pension Benefit Guaranty Corp. The president of Machinists union did not immediately return a call for comment. Bankruptcy lawyer Ed Nazar, who represents a couple of subcontractors who are owed money by Hawker Beechcraft, said the bankruptcy may hurt the ability of subcontractors and vendors to get paid for outstanding accounts. He also lamented that the fili
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