German airframer Extra Flugzeugbau of Hunxe entered insolvency last month, similar to Chapter 11 bankruptcy in the U.S. While the company seeks investors, said Kenneth Weaver, president of Extra North America, “The trustee appointed to administer Extra in the interim has stated that operations will continue with a skeleton crew.” Some 240 people had been employed in the production of Extra’s EA-200 and EA-300 aerobatic airplanes and six-place EA-400 piston single, as well as development of the $1.6 million EA-500 turboprop derivative of the EA-400. Just one week before the insolvency became public, Weaver had told AIN that certification of the EA-500 was expected this summer. Now the project is on hold until the insolvency is resolved. Exactly how much money is needed has yet to be determined, he said. Weaver had been in the process of revising Extra’s distributor network in the U.S. and had recently moved the office of Extra North America from Orlando, Fla., to Lancaster, Pa. –R.R.P.
Insolvency halts development of extra EA-500 turboprop
- January 11, 2008, 5:40 AM