Cessna Bizjet Supplier Puts House In Order
The Wichita Eagle reports Avcorp Industries -- Canadian supplier to Cessna Aircraft Co. -- is in the midst of working out its financial troubles. The company provides wing boxes for Cessna's CJ3 and Sovereign aircraft. According to Cessna spokeswoman Jessica Myers, Avcorp's financial difficulties have not affected the aircraft manufacturer.
"We've received good-quality parts," Myers told the newspaper. "And they've been on time. Everything is going very smoothly with them."
Avcorp is renegotiating debt with its major lenders, arranging short-term financing, and working on a sale and leaseback of its land and building.
In other Cessna bizjet news, Raytheon Aircraft chief executive Jim Schuster told analysts last month that Cessna's newest business jet, the Mustang, now in development, is not in competition with Raytheon products. "It's a very different market," Schuster told the gathering.