Aerion Retains DSI To Liquidate

 - September 2, 2021, 11:13 AM

Aerion, which stunned the aviation community in May when it ceased operations after progressing toward a nearly two-decade-long goal of civil supersonic flight, has retained Development Specialists Inc. (DSI) to liquidate. 

Aerion had firmed up its design of what was to have been the AS2 supersonic business jet, built a backlog that it said was in the billions, and established a presence in both Reno, Nevada, and Melbourne, Florida, where it was to have built a massive headquarters and production complex with the help of an incentive package valued at about $480 million. But the supersonic developer, founded in 2003 through the support of Texas billionaire Robert Bass, had run out of funding options.

Rather than turn to bankruptcy, the company opted to wind down operations through an “Assignment for the Benefit of Creditors” under Florida statutes. This process would maximize value for Aerion by providing for a streamlined sale of assets, DSI said.

“We foresee a sale process that would be of great interest to companies in aerospace, aviation, and U.S. military defense while maximizing value for creditors,” said Joseph Luzinski, the assignee and a senior managing director of DSI. “While the sales process is being implemented, we welcome expressions of interest from interested parties.”

DSI advised interested parties to contact the assignee or DSI managing directors Steven Victor or Matthew Sorenson.