Al Marsh

Mooney announces its “comeback”

October 11, 2013 by Alton K. Marsh, Senior Editor, AOPA Pilot

Friday night Mooney released this announcement on achieving new funding that will allow a restart of production in January. Earlier this week a Chinese news agency reported a Chinese real estate firm was making an investment in Mooney. The announcement identifies only a California company as the investor.

 

Mooney Announces Its Comeback

With New Funding, Mooney Sets Itself to Re-enter the Single Engine Market

 Kerrville, Texas – After a five-year hiatus from manufacturing single-engine airplanes Mooney is pleased to announce that it will restart manufacturing at the beginning of January 2014 at its headquarters in Kerrville, TX.  New funding from Soaring America Corporation, a California based Company will provide necessary capital to re-launch and sustain the legendary brand. Details of the financial arrangements will remain confidential. The company will continue to manufacture the Acclaim Type S, and the Ovation series.

“It’s a new day for Mooney. And with a new investment group that is committed to the future, we’re expecting to make a strong move in the industry,” noted Barry Hodkin, Chief Financial Officer for the company. It’s been a long time coming and we couldn’t be more excited about our return to manufacturing one of the finest and most trusted airplane fleets in the industry.”

The first order of business will be to hire and train a new workforce and reestablish the supply chain. The company is projected to recruit up to 100 people within the first year of operation. The company has a large variety of personnel needs that includes technicians, engineers, line workers, accounting and sales people. Within two years, the company is anticipating employing significantly more people depending on the demand for its products.

“While we expect to be reunited with some of our previous employees, we are confident we’ll attract new talent as we re-enter this aviation space. We’re looking for the best and brightest people to help meet our vision for the future,” said Hodkin.

The Acclaim Type S is recognized as the world’s fastest single engine airplane. The turbo-normalized airplane is home to over 130 speed records with a normal cruise speed of 230 ktas and a service ceiling of 25,000 feet. The Ovation series has cruising speeds up to 190 ktas and a service ceiling of up to 20,000 feet.

“It’s too early to provide the details, but we’ll have some very exciting announcements in the near future about the technological advances that will accompany the Acclaim Type S and Ovation series,” said Hodkin.

During the difficult economic times starting in 2008, when single engine sales dropped by over 30 percent compared to the year prior, Mooney ceased production. Over the last five years, the Company that was started by Al Mooney more than 80 years ago has remained in business, focusing on customer support for the Mooney planes still in service. Given more positive economic indicators and the unique market niche for Mooney airplanes, the company feels confident about a sustaining future in the industry.

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18 Responses to “Mooney announces its “comeback””

  1. Jolie Lucas Says:

    This is great news for Mooney and for the workers in the factory. The news has been welcomed by all Mooney owners. We are one of the last companies who build their aircraft in the US and we are proud.
    Texas strong and American-made. Long live our little speedsters!

  2. Jim Justus Says:

    If you need help with your reopen I would love to be part of it!

  3. BAUMGARTNER Says:

    What about the new engines fitted on these new MOONEYs ?
    Is Mooney Aircraft expecting jet-fuel or diesel engines like Beechcraft on Bonanzas & Barons ?
    I’m on the verge of setting up in FRANCE a new private
    “Mooney shared ownership” program operating ONLY coming new manufactured MOONEYs !
    Best regards,
    Claude
    I flew the Porsche prototype & TLS.

  4. Cary Alburn Says:

    My hope for Mooney is that there’s enough capital that they don’t have to shut down again in a short time. It’s a terrific airplane, one that I have thoroughly enjoyed flying in the past. My tour through the Mooney factory many years ago convinced me that it’s not only one of the fastest, but also one of the sturdiest. Good luck, Mooney folk!

    Cary

  5. Ross Lewis Says:

    Congratulations and the best of luck.
    I have been a career pilot for over 40 years and have just retired from an International VVIP jet operation with over 18,000 hours of accident, incident and violation free flight time. I started my flying experience in several aircraft including the Navion, Piper Colt, Cessna 150 and Mooney and remember the Mooney as a sturdy, fast and very reliable aircraft and have always appreciated the feeling of security that this aircraft gave me when I was a very low time and inexperienced beginner.
    As a life time aviator, Texas resident and experienced pilot, I wish you the best of luck for a long and successful future building an aircraft that will continue to give other beginners and experienced pilots a safe and enjoyable ride. I will follow your story with the utmost of interest, goodwill and best wishes. Capt. Ross Lewis

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  7. Norton Wolf Says:

    I have been flying for over 50 years and left twins for a Mooney 201. I now own and fly a Mooney 252 and love it. Cannot say how pleased I am to hear that the factory will again be manufacturing. I wish them long term success with this excellent aircraft.

  8. Norman Says:

    Great news.

    Great Airplane

    Great people left at the Mooney factory to carry on the tradition and with new talent should be a success.

    Mooney is one of the best investments you can make in any GA aircraft..Have owned 4
    including 231 Turbo…

    Best

    Norm

  9. Dale Says:

    Great News!!
    Grew up flying Mooneys with my Grandfather….first a M20f then later a
    spanking new 201… Sturdy and fast flying machines…..hope to buy a new ovation…!!

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