Bangkok Suvarnabhumi International and Don Muang Airports are set to reopen on Thursday, following a high court ruling today that might clear the way for Thailand’s political crisis to be resolved.
AINalerts » December 2, 2008
BAE Systems Regional Aircraft last week announced that its London Stansted airport-based partner, Inflite Engineering, completed the first conversion in the Avro Business Jet program–an Avro RJ70 fitted with a Design Q interior. The aircraft was delivered in mid-November. It was bought and is now operated by Bulgaria Air on behalf of its parent company, Varna-based TIM.
AAI Acquisition, the company formed by Russian investment firm Industrial Investors to buy the assets of bankrupt very light jet developer Adam Aircraft Industries in April, last week revised its business plan to offer engineering and composite manufacturing services to other companies.
Just one day after filing Chapter 11 bankruptcy last Tuesday, a group of investors, including European distributor Etirc Aviation, received court approval to provide interim financing to keep the very light jet manufacturer open and its 954 employees working. The financing is intended to ensure Eclipse Aviation is a viable entity when its assets go up for public auction next month.
The market for very light jets (VLJs) is set to take a significant dip as recession sweeps across Western economies, according to PMI Media. The firm’s latest study–The Very Light Jet Market 2008-17: The impact of the global financial crisis–predicts that 4,610 VLJs worth $9.54 billion will be delivered over this 10-year period.