Mooney Sold To Chinese Company: Report
Mooney Aircraft Company has reportedly been sold to a Chinese company, and indications are the intention is to resume production, build aircraft components and service the used aircraft market, mainly in China and Asia. Meijing Group, a Chinese real estate company, expected to close the deal on Tuesday and finalize the sale sometime in November, according to CRI.com, a Chinese news website. The website quoted an unnamed Meijing executive as its source. The website says the U.S. government's Office of Foreign Investment signed off on the proposed deal on Oct. 2. After-hours phone and email messages to Mooney's Kerrville, Texas, headquarters were not immediately returned. There was a hint of a revival of the storied planemaker when it unexpectedly showed up at AirVenture Oshkosh this year, as we reported from the show.
At the time, Mooney officials attending their modest booth were circumspect about resuming production but they did assure AVweb that all certifications had been maintained and that the existing fleet was being properly supported. According to cri.com, Meijing Group is looking to diversify. It's based in Zhengzhou, which has been designated China's first air economic zone. "Since then, [Zhengzhou] has been on a fast track of transitioning from a railway-pivoted economy to an aerotropolis," the website reported.