Creditors of German company Flight Design have accepted a combined offer to take over the insolvent aircraft manufacturer.
Lindig Group from Eisenach, Germany, and AeroJones of Taichung, Taiwan will together assume control of Flight Design, with Lindig taking over the company under an insolvency plan procedure and AeroJones buying the assets of the C4 general aviation aircraft and the CT LSA line.
“The creditors with their decision for the new investors have paved the way for a continuation of the core business as well as the production and support of established aircraft and completion of new developments,” said Flight Design receiver Knut Rebholz.
According to Rebholz, an important step was it to agree with customers on a way to finance orders that existed before the insolvency.
“The negotiations for this were, among other reasons, very complex, because the customers of Flight Design are from all over the world and are not familiar with the German Insolvency Code” he said
Under the current situation, the first aircraft will be delivered to customers at end of August or beginning of September.
The customers whose aircraft orders were not filledat the time of opening of insolvency proceedings can confirm their orders to the conditions offered by the insolvency administrator until 30 September this year.
AeroJones has been manufacting the CT range and spare parts for the USA market since April this year.