Swearingen SJ30-2 gets another chance

The Sino Swearingen SJ30-2 business jet has yet another reprieve in its many-year quest to fill the skies.

A Dubai-based investment firm, Emirates Investment and Development Corporation (Emivest), is purchasing 80 percent of Texas-based Sino Swearingen for $150 million. The deal is scheduled to be completed by the end of June. A spokesman for Emivest had no details on whether the company name will continue to reflect Taiwan’s investment or when production will ramp up.

Two of the jets are in customers’ hands now, but one belongs to an investor in Sino Swearingen and the other to a distributor in Europe. Among those awaiting deliveries is actor Morgan Freeman.