Cash-strapped Grob looks for options
Grob Aerospace, the German manufacturer behind the all-composite Grob SPn twinjet, has declared bankruptcy.
CEO Niall Olver said in a statement that recent delays in the SPn program had caused increased cash requirements in order to see the aircraft through to certification. “As such, our current loan provider has elected to discontinue support, with immediate effect,” he said.
Even so, Olver remains optimistic, citing the successful flight of the No. 4 test aircraft on Aug. 7, and stating that the SPn is well on the way to certification. All possible options are being evaluated, Olver said, adding that he remains “confident that this disruption will be overcome and that we can move forward in confidence in the near future.”
This is the second time that Grob has encountered a stumbling block on the way to the SPn’s certification. In November 2006 the No. 2 SPn prototype crashed after takeoff, killing its test pilot.
August 19, 2008