Liberty Aerospace Steps Back From The Edge, Via Kuwait?
Liberty Aerospace, of Melbourne, Fla., announced yesterday that Kuwait Finance House - Bahrain has signed an agreement to acquire 75 percent of the stock of Liberty's parent company, through a combination of stock purchases from stockholders and a working capital investment. Liberty's management and staff will remain unchanged. Liberty manufactures the FAA-certified two-seat Liberty XL2 aircraft. KFH Bahrain is a multibillion-dollar company and is also an investor in Millennium Aircraft Leasing, which owns and leases commercial airliners. "We have known for some time that we have an outstanding two-seat aircraft, but we now have both the financial capability to properly support it, and the flexibility to develop the world's best light aircraft brand," said Liberty's co-founder and president, Anthony Tiarks, in a news release. "By securing KFH Bahrain as an investor it assures present and future customers that we will be there for them in the long term." Abdulhakeem Alkhayyat, general manager of KFH Bahrain, said, "Liberty's healthy order book and their step-by-step fulfillment of their business plan convinced us that Liberty represents the right investment for KFH Bahrain and its investors," according to Liberty's news release.