 On December 26, 2013, Textron agreed to purchase Beechcraft, including the discontinued Hawker jet line, for $1.4 billion.The sale was concluded in the first half of 2014, with government approval.Textron CEO Scott Donnelly indicated that Beechcraft and Cessna would be combined to form a new light aircraft manufacturing concern, Textron Aviation, that would result in US$65M-$85M in annual savings over keeping the companies separate.