A New York bankrupcty court has granted until Feb. 27, 2013, for Hawker Beechcraft to find a solution to its bankruptcy problems. During that time HB will continue to negotiate with Superior Aviation of Beijing for a $1.79 billion buyout, but is not limited to that solution alone. When the deal was announced, HB and the Chinese owner of Superior Aviation said they needed 45 days to work on the deal to the exclusion of all others, adding that it probably wouldn’t take the full 45 days. That period has passed with no deal, but with HB saying progress is good. An attorney told the court there could even be a negotiated deal this week. HB attorneys wanted the additional time–and have reserved the right to ask for an even longer period of exclusive negotiation–before others can file a Chapter 11 plan. The company is still free to drop the Chinese sale and pursue alternatives. No matter which way the company goes it seems certain HB will move towards being a service company for the aircraft already in the fleet. Industry analyst Brian Foley says the company was already headed that direction before filing for bankruptcy.