Air Capital Insider

“Dear Starbucks, You Still Need to Fly. We’re Here to Help.”

So starts a new Hawker Beechcraft ad unveiled today that’s aimed at promoting the use of business jets. That’s become unpopular after the heads of the nation’s Big Three automakers flew jets to Washington to ask for bail-out money.

“We recently learned in the press that you’re selling some of your business aircraft,” the ad went on to say. “That must have been a difficult decision, since taking advantage of business opportunities in today’s challenging times calls for speed and flexibility impossible to find with commercial carriers.”

The ad also promotes the company’s Hawker 4000 business jet.

Hawker Beechcraft joins Cessna Aircraft and trade groups the National Business Aviation Association and the General Aviation Manufacturers Association in campaigns to counter the negative image business jets have gotten recently. (Click the photo below to see a larger version.)

Spirit AeroSystems’ board of directors adjusted the formula for bonuses to certain Spirit officers f0r the company’s 2008 performance under an annual incentive awards plan. The company released the information in a filing with the Securities and Exchange Commission.

Spirit’s board adjusted the formula to mitigate the impact of an eight-week Machinists strike at Boeing on Spirit’s financial results, the filing said.

That meant Spirit president and chief executive Jeff Turner received $853,416 in bonuses instead of $526,800.

The Boeing strike was beyond the control of Spirit management, the SEC filing said. The company had been on track for awards equal to about 121 percent of target levels. So the board gave credit for the 121 percent rate for the first eight months of the year and a zero percent rate for the last four months to arrive at 81 percent of target levels, the SEC filing said. Without a strike, the company had been on track for Turner to receive $1.28 million in an annual bonus.

The eight-week Machinists’ strike at Boeing hit Spirit’s financial results and led to three-day work weeks for the majority of Spirit workers.

The disclosure of the bonuses has riled some hourly workers who work under a contract with provisions that did not trigger a bonus payout. They note they worked shortened work weeks but did not receive incentive awards.

According to the filing, Spirit chief financial officer Rick Schmidt received $560,520; John Lewelling, general manager of Spirit’s wing segment received $364,500; Ron Brunton, chief operations officer, received $543,873; and David Walker, head of sales and marketing, received $189,398.

The Kansas Aviation Museum’s board members have selected new officers.

They include  Tim Bonnell Sr., Professional Insurance Management, is the new president; Ron Williams of Stinson, Morrison, Hecker, was selected for vice president; Cheryl Kastner, Intrust Bank, is secretary; and James Wiebe, Wiebetech, is treasurer.

Boeing Wichita took steps Thursday to respond to speculation by its engineering union about the future of the Wichita site.

The union, the Society of Professional Engineering Employees in Aerospace, raised concerns during contract negotiations whether Boeing wanted to divest of the site.

“We do not usually comment on rumors, but this time we felt it was necessary because of the potential damaging affects of this rumor on our customers, our reputation, and most importantly you,” the memo from Boeing Wichita vice president Scott Strode said.

“In response to the specific question from SPEEA, here is how we responded; as of this date, Boeing in the last year has not been contemplating negotiations or in negotiations about divestiture or joint venture regarding the Wichita facility,” Strode said in the memo.

The company is trying to create a business environment that allows it to compete for and win new business, he said.

“There is only one way to secure our future here and that is to deliver high quality affordable products to our customers, and keep our promises,” Strode said.

“In our view, there has been misinformation in the media about the future of the Wichita site,” a memo to employees from Boeing Wichita vice president Scott Strode said Thursday.  “The result has been inaccurate speculation and fear.”

The Kansas Aviation Museum is hosting a party and fundraiser with a Winter Chill Party.

Entertainment will feature a specially-written old-time radio show called “The Riverbend Radio Hour.” The show is a compilation of comedy sketches and bits written by the museum’s director, Lon Smith. The event also features dinner and live music.

The Wichita Eagle’s Bonnie Bing and KSN’s Stephanie Bergman will be featured.

The show is Saturday, Feb. 7. Doors open at 6:30; dinner and live music begin at 7. The show is scheduled for 8 p.m. and will run about an hour.

Cost is $50 per person. Reservations are required. Call 683-9242 for reservations or for more information.