Cessna to buy Columbia assets, auction set for Nov. 27
October 25, 2007
AOPA ePublishing staff
Cessna to buy Columbia assets, auction set for Nov. 27
By AOPA ePublishing staff
A federal bankruptcy court has approved an asset purchase agreement between Cessna Aircraft Company and Columbia Aircraft, and set Nov. 27 as the date for the planned auction of Columbia.
Execution of the asset purchase agreement puts Cessna in the preferred position entering the bidding process. Rules for the bidding were approved by the bankruptcy court on Oct. 22.
In addition to Cessna, Cirrus Design, investment firm Versa Capital Management Inc., and Park Electrochemical Corp. have expressed interest in bidding for Columbia.
Columbia announced on Sept. 24 that it had filed for Chapter 11 so that it could continue operating—this despite the fact that deliveries through the third quarter of 2007 were on pace to set a new company record.
October 25, 2007
Connecticut lawmakers have voted to recognize Gustave Whitehead as the first pilot to achieve powered flight. The bill awaits the governor’s signature, and marks the latest round in a newly revived debate.
Waco Classic Aircraft Corp. officially unveiled the first conforming new production Great Lakes 2T-1A-2, an aerobatic biplane.
Brazil’s brand-new Wega arrived in the United States in April. The Wega is an all-composite, Experimental-category airplane built in the Santa Catarina district in Brazil.