Small Plane Manufacturer Thrush Aircraft to Sell in Bankruptcy

Bankrupt Thrush Aircraft Inc. intends to auction its small aircraft manufacturing business with an opening bid of about $5 million.

Thrush, specializing in single-engine turbine-powered aircraft for agriculture, forestry, and firefighting, on Oct. 2 asked the U.S. Bankruptcy Court for the Middle District of Georgia to authorize the Albany, Ga.-based company to conduct an auction Oct. 29 of its assets.

HHM Aviation Financing LLC has submitted an initial “stalking horse” bid, which includes $3.9 million cash payable to secured creditor Wells Fargo Bank N.A. HHM will also give Wells Fargo a promissory note for $1.15 million due in three years. ...