Enstrom Helicopter will re-open following a buy-out that will save the company from liquidation.
Enstrom filed for Chapter 7 bankruptcy in January after 63 years in operation, but new sources in the USA have reported that MidTex Aviation has bought Enstrom for $US 10 million last week.
MidTex has said it will rehire some of the former Enstrom employees and expand the company to include eVTOL and urban mobility products.
The Michigan-based company was formerly owned by Chongqing General Aviation Industry Group Co. Ltd (CGAG) of China, but went into bankruptcy proceedings when the Chinese failed to supply more cash.
Enstrom is expected to start manufacturing again in April.