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mentioning this AVwebFlash
NEEDS AN IMMEDIATE $25 MILLION
Adam Aircraft faces
"liquidation" if it doesn't raise $25 million by the end of January. In
a letter to shareholders, CEO John Wolf said that without the immediate
cash injection, Adam will have to take action to meet the terms of
agreements with "senior lenders," according to the
Wichita Eagle. The lenders were not identified. Adam spokeswoman
Shelly Simi told the Eagle the money crunch has to do with financial
obligations coming due. "It's like every other loan or any other type of
funding," said Simi. "There's always stipulations or requirements and
that's what we're working through as every other company would."
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Quotes reprinted with permission. Aviation
Consumer, August 2007.
TO DEVELOP COMPOSITE LEAR 85
Bombardier Aerospace has picked
Grob Aerospace to develop the all-composite structure of the Lear 85
business jet that was announced last October but without much detail.
The new aircraft is Bombardier's first venture into composites and the
85 will be the first composite bizjet certified under FAR Part 25, the
company said. Grob will build the first three Lear 85 prototypes, too.
Grob has built 3,700 aircraft and is developing its own business jet,
the Spn. More...
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DROPS $100,000 ON LOBBYING
The National Business Aviation
Association paid lobbyists Ernst and Young to pressure Congress and the
Treasury Department on "tax issues related to fuel and aviation" in the
first half of 2007. The figure was reported by Thomson Financial and
based on disclosure documents filed by Ernst and Young. Although the
description is vague, it appears the lobbying centered on the user fee
debate, which is now on the backburner as the Senate and House can't
seem to find consensus on the issue. More...
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|Sebring Behind Us, Air Taxi Convention Ahead||back to
AIR TAXI CONVENTION UNDER WAY
Delegates from North America
and Europe are gathering in Ft. Lauderdale, Fla. for the rest of this
week to talk about the air taxi business, particularly as it relates to
the use of very light jets. Most of the companies represented have been
in business less than a year and there's plenty for them to talk about
as they continue to try to build a new and independent aviation service
sector. "For the first time, the business traveler has a real choice,"
says the convention Web site. "However, the industry is still
young with many questions yet to be answered." More...
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TAXI ASSOCIATION EUROPE
The Air Taxi Association Europe has
officially launched, with founding operators including AccelJet, AirCab,
Air-Cannes, Bikkair, Blink, byJets, ETIRC Aviation, GlobeAir, Gonow,
JetBird, Jet Ready, LEA, Taxijet, and Wondair. The assiciation will work
to develop strategic committees on technical standards, finances,
manufacturers, lobbying, and communications. It aims to stimulate demand
and the adoption of best business practices driving industry
standardization economies of scale and operational efficiencies.
Collectively, the association reaches across Europe and beyond and all
operators will be using "next generation very light jets" with low
carbon footprints to minimize their environmental impact, according to
the Association's press release. Alan Perry will serve from London as
Managing Director of ATXA Europe and members have elected Stefan Vilner
of JetBird to serve as Chairman of ATXA Europe. More...
Cessna Aircraft Company, the
World's Largest General Aviation Manufacturer
Based on unit sales, Cessna Aircraft Company
is the world's
largest manufacturer of general aviation airplanes. In 2006,
delivered 1,239 aircraft, including 307 Citation
business jets and reported revenues of about $4.2 billion. Cessna
has a current backlog of $11.9 billion. The global fleet of more than
is the largest fleet of business jets in the
More information about Cessna Aircraft
Company is available online
AND HAMPSON SETTLE
Eclipse Aviation and Hampson Aerospace
announced Tuesday that they've settled claims and counterclaims that
resulted from contractual issues between them. Late last year Hampson, a
large British company which has a subassembly plant in Grande Prairie,
Tex., sued Eclipse for alleged non-payment for tail sections it had
built for the very light jet. Eclipse filed a counterclaim against
Hampson but Tuesday's announcement says that's all history.
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OPERATOR SUES TRANSPORT CANADA OFFICIALS
The manager of a
small airline that had a fatal crash on Vancouver Island two years ago
is suing Transport Canada and three of its senior employees for
defamation. Nikolas Todd Chapman claims the officials unjustly lifted
his authority to act as the operations manager for International Express
Aircharter the day after one of its aircraft, a Cessna Grand Caravan,
crash landed in a logging clearing, killing the pilot and two of seven
passengers. At the time, Transport Canada said Chapman "failed to fulfil
his responsibility as operations manager to control the operations and
operational standards of all aircraft operated by IAE." Canada's
Transportation Safety Board later determined the crash was caused by an
engine failure and Chapman claims in the suit that there's no way he
could have predicted or prevented it. More...
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THE AVWEBBIZ TEAM
AVwebBiz is a weekly
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