Sino Swearingen Seeking Funds To Boost Production

AINalerts » June 28, 2007
June 28, 2007, 12:43 PM

Recent news reports from Taiwan suggesting that the Taiwanese government is unwilling to continue funding Sino Swearingen Aircraft’s SJ30 program are not accurate, according to Hamish Harding, chairman of the UK’s Action Aviation, which has 159 SJ30s on order. “I am aware of the reports,” he told AIN, “and have received full assurance from Sino Swearingen and also from its Taiwanese investors that the reports are false.” The owners of Sino Swearingen, which include Taiwan and first SJ30 customer Doug Jaffe, have invested more than $600 million in the program. The second SJ30, N70SJ, has received its airworthiness certificate and will be delivered “soon,” according to Mark Fairchild, Sino Swearingen vice president for marketing and sales. Four more SJ30s are in final assembly, he added, and wing and fuselage manufacturing continues at the company’s Martinsburg, W.Va. factory. “We are in continued talks with potential qualified investors,” he explained. “Taiwan continues to support our program and at the same time is looking for additional investors to help increase our production rate and move the company to where we need to go to become the company we want to be.”

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