Symbols are important, especially in China, and Avion Pacific Ltd. (Chalet 370) has chosen a precious 20-carat diamond to symbolize the preciousness of each of its 20 years of operation as a general aviation service and support center in China.
Canada-based Diamond Aircraft has again suspended its single-engine D-Jet program and has temporarily laid off the majority of its workforce while it restructures. “Regrettably, we need to suspend activity on the D-Jet program, pending the securing of additional funding,” said Diamond president and CEO Peter Maurer in a press release issued yesterday.
Medrar Financial Group of Dubai and Diamond Aircraft Holdings of London, Ontario, signed an agreement yesterday at the Dubai Air Show for Medrar’s acquisition of a majority interest in Diamond. The agreement does not affect Diamond Aircraft Gmbh in Austria.
Medrar Financial Group of Dubai and Diamond Aircraft Holdings of Austria have signed an agreement for Medrar’s acquisition of a majority interest in Diamond, the companies announced today. The agreement includes Diamond’s piston airplanes as well as its under-development, single-turbine D-Jet.
Diamond Aircraft last month received a $19.6 million “repayable investment” from the Canadian government for research and development of its $1.4 million single-engine D-Jet. The government’s investment coincides with Diamond’s decision to manufacture the five-seat, all-composite jet single at its facility in London, Ontario, where the D-Jet R&D program is based.
Diamond has increased the price of the single-engine D-Jet from less than $1 million to $1.36 million, nudging the $1.5 million tag for the Eclipse 500 very light twinjet. The increase is due to the manufacturer’s including previously optional items as standard equipment. Diamond also announced a new option for the very light jet single: a BRS recovery parachute.