Posts Tagged ‘Diamond Aircraft’
Flight testing of D-Jet prototypes 002 and 003 resumed August 31, following the grounding of the jets in March. New funding allowed the recall of part of the development team, said Diamond President Peter Maurer. Design work will be completed allowing production to start on conforming aircraft 004. A one-hour flight of D-Jet 003 included testing of aircraft systems and navigation software. There! A little good news for the Labor Day weekend. Canada, where Diamond Aircraft is located, celebrates that holiday this weekend as well. The company received financing from an undisclosed source to resume the D-Jet program.
Diamond Aircraft will not exhibit at EAA Airventure, the National Business Aviation Association convention, and AOPA Summit as a cost-savings measure. The company will continue to exhibit at law-enforcement and government security shows to demonstrate its special mission aircraft. The decision was a cost-saving move to focus on the D-Jet program and continue support of the piston-engine fleet, said Diamond President Peter Maurer. A recent loan from an unnamed source was to support development of the D-Jet. Maurer said the decisions were necessary because of the “…continued weakness of the economy,” and “…slow industry wide retail sales.” The company’s September open house at the factory in London, Ontario, will continue as planned.
Diamond Aircraft was notified May 17 that it will not get the $35 million loan ($36 million U.S.) that was characterized by the company as critical for the future of the D-Jet and the future of the company. The company laid off half its workers while waiting on news about the loan. The company says it has “other doors” to try where funding might be available–even in a recession. One of those is the China option (maybe a purchase?), where Diamond has a plant. Workers previously laid off will continue to be picked off by other aerospace companies while top officials look for ways to fund the jet program. Hopefully one of the doors Diamond is knocking on will open soon.