Texas-based airframe manufacturer Mooney on Monday announced plans to restart manufacturing of its Acclaim Type S and Ovation series single-engined aircraft beginning in January.
[Mooney Acclaim Type S. Photo, courtesy of Mooney.]
The company ceased production in 2008, when sales of single engined aircraft dropped by 30 percent. Over the last five years, the company focused on providing services for Mooney aircraft that were still in service.
California-based investment group Soaring America Corp. is providing funding for Mooney to re-launch production, although both companies are not disclosing details of the financial arrangement.
"It's a new day for Mooney. And with a new investment group that is committed to the future, we're expecting to make a strong move in the industry," noted Barry Hodkin, chief financial officer for the company. It's been a long time coming and we couldn't be more excited about our return to manufacturing one of the finest and most trusted airplane fleets in the industry."
The company released a statement indicating that it "feels confident about a sustaining future in the industry," based on more positive economic indicators and a "unique market niche for Mooney airplanes."
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