The CEO of Cessna parent company Textron says his company is watching the situation with competitor Hawker Beechcraft.

During a conference call this morning, Scott Donnelly said that Hawker Beechcraft has assets in which Textron could have an interest and would be a good fit. Donnelly qualified that by saying the price has to be right, whether it’s the entire Hakwer Beechcraft operation, or just the defense operation.

Hawker Beechcraft filed for Chapter 11 bankruptcy protection this year. It recently entered into exclusive negotiations with China-based Superior Aviation Beijing, Co., which wants to acquire the Wichita planemaker.

During the conference call, Donnelly said the Hawker Beechcraft process is "technically not closed to anyone". He said "the number that is out there is a pretty high number,' referring to the $1.79 purchase price Superior would pay for the company.

Donnelly said his company will watch the process as it goes through to see how it plays out. He said it is still early on, and that if Superior does purchase Hawker Beechcraft, it means it is still in the market, and the two companies will continue competing just as they have done for years.

Click here to hear Textron's entire second quarter conference call. You may have to enter an e-mail address. The discussion about Hawker Beechcraft starts around 44:30 into the call.