Cash In Hand, Lancair Ramps Up
The Lancair Co., of Bend, Ore., confirmed last Friday that it has (finally) closed on a $55 million financing deal with Malaysian investors. With 173 outstanding orders for its Columbia certified aircraft, the company has plenty of work to catch up on. "Our every effort is now directed at the re-start of manufacturing and delivery of the Columbia aircraft," Lancair President Bing Lantis said in a news release. "We will steadily increase production to and beyond a rate of one aircraft per day." The company ran into a capital crunch last year, and had to lay off most of its 300 employees. The cash arrived by way of Composite Technology Research Malaysia (CTRM), a longtime investor in Lancair. CTRM operates a group of aerospace companies that design and manufacture airframe components.