April 27, 2011
By Alton K. Marsh
The organizer of an effort to make a counter offer for the purchase of Cirrus Design said investors have decided to see what happens before preparing a purchase package. The investors, according to aerospace consultant Brian Foley, feel an offer from the China Aviation Industry General Aircraft Co. (CAIGA) could be approved as early as May.
Foley, formerly in marketing for Boeing and Dassault Falcon Jet, said the process of organizing an investor group has led to the discovery of others outside his group who are also interested in keeping companies like Cirrus in American hands.
For now, it is a wait-and-see situation, with the cognoscenti placing their bets on the approval and completion of the deal with CAIGA.
While the current majority investor is Bahraini-backed Arcapita, the Chinese deal is for 100 percent of the company, “…leaving no U.S. ownership, which has been a major cause of consternation,” Foley said.
Foley said his group is ready to re-energize if the China deal fails, as are certain other independent investors or groups. Foley did not elaborate on how many there might be, or how many investors he has organized.
AOPA Pilot Senior Editor Alton Marsh has been a pilot since 1970 and has an airline transport pilot certificate and instrument and multiengine flight instructor certificates, aerobatic training, and a commercial seaplane certificate.
Nextant Aerospace, adding a remanufactured King Air to its remanufactured Hawker 400 offering, says the King Air (Nextant G90XT) will fly early next year.
Greg Pecoraro, AOPA vice president of airports and state advocacy, brought Indiana aviation community members up to date on the association’s initiatives.
Elbit Systems has upgraded infrared systems that see through darkness and weather for nearly visual landings and takeoffs, as well as taxi operations.
VOLUNTEER AT AN AOPA FLY-IN NEAR YOU!
SHARE YOUR PASSION. VOLUNTEER AT AN AOPA FLY-IN. CLICK TO LEARN MORE >>>
VOLUNTEER LOCALLY AT AOPA FLY-IN! CLICK TO LEARN MORE >>>
BE A PART OF THE FLY-IN VOLUNTEER CREW! CLICK TO LEARN MORE >>>