Klapmeier Jet Deal Collapses

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Cirrus Design founder Alan Klapmeier said Friday that negotiations with Cirrus Aircraft over his proposed purchase of the VisionJet program have collapsed and, at this point, there is little likelihood of them resuming. Klapmeier told AVweb there were a number of sticking points in the negotiations, including price, that couldn't be settled. "It appears that we're not going to be able to come to an agreement," he said. AVweb left a voice message with Cirrus CEO Brent Wouters but he did not immediately return our call. Klapmeier said he was disappointed by the outcome. "It's sad, but life goes on," he said.

Klapmeier announced a month ago that he had formed a group to purchase the jet program, which has been delayed by a shortage of funding. Earlier this week, Cirrus officials said the negotiations were ongoing and that they would only consider Klapmeier as purchaser of the program because the jet would then remain a natural next step for Cirrus piston owners. Cirrus has repeatedly said that the jet program will proceed regardless of the outcome of the negotiations with Klapmeier.