Boeing Co. has settled its differences with GDC Technics LLC, a bankrupt supplier of products and services for Air Force One that filed for chapter 11 over contract disputes involving the presidential plane, WSJ Pro Bankruptcy reported. Boeing and its Air Force One subcontractor GDC will “resume customary business interactions” when the Fort Worth, Texas-based company restructures its finances and leaves chapter 11, according to settlement papers filed Thursday in the U.S. Bankruptcy Court in San Antonio. The proposed settlement clears the way for GDC to leave chapter 11, where the aircraft modification and technology business sought protection in April, alleging that Boeing had caused delays on contracts to supply Air Force One and failed to pay for work. Each company blamed the other for contract delays. Boeing said it was a major creditor of GDC, filing a $314 million claim in the chapter 11 case, dwarfing all other claims against the company. Under the agreement filed Thursday, Boeing will restart discussions with GDC about supplying products for its aircraft. The aerospace giant will also consider providing technical support again to customers that do business with GDC “so long as GDC is operating in compliance with its licenses and other agreements with Boeing,” the court filing said.
