EBACE Show News - May 20, 2008 - (Page 80) EBACE 2008 Swearingen Takeover in Prospect—by EIDC Dubai’s Emirates Investment Development Company (EIDC) could be the white knight that beleaguered U.S. airframer Sino Swearingen has been waiting for. Word is emerging through industry sources that EIDC is to become a majority shareholder in the company, with the Taiwanese Government still Investors from the Emirates may take over Sino Swearingen and the SJ30. maintaining a large stake, thus keeping the SJ30 light business jet program alive. The source says the Sino Swearingen workforce The U.S. State Department must approve the of 200 still continues to be paid, and that takeover sale of the San Antonio, Texas-based company negotiations have been ongoing since January. It was announced at last year’s NBAA because of its strict foreign ownership rules. The decision is expected mid-May, and it is hoped the Convention that ACQ Capital of the U.S. and announcement will be made here at EBACE. Action Aviation of the UK (which has 159 SJ30s on order for its distributorship) would take over Sino Swearingen, but the deal fell through late last year. Since FAA certification in 2005, the SJ30 program has struggled to produce just two production aircraft (006 and 007), but buyers have largely stayed loyal to the program, maintaining its 300 aircraft backlog. According to the source, if the deal is concluded, the schedule will be revised, with series production ramp-up beginning in 2009/10. The $7.5 million, high speed, high altitude, Mach 0.83-capable SJ30 has a range of 2,363 nmi at Mach 0.80 with NBAA IFR reserves, with one pilot and three passengers. S/n 007 is in the EBACE Static Park with Action Aviation. —Mike Vines UK’s Southend Airport Put Up for Sale by RAL London’s Southend Airport has been put up for sale by owners Regional Airports Ltd. It is believed that offers around $70-$100 million are being sought. Possibly some proceeds will be reinvested in RAL’s successful business aviation airport at London Biggin Hill. Initially there were 12 interested bidders, now reduced to seven, with the winner due to be revealed in June or July. Among companies that have expressed an interest are the London City Airport consortium, and Dawnay Day, the 50% new owners of Oxford Airport. Press speculation that the successful bidder will have to pay $200 million is “wildly over the top” according to our source. The winners will own London’s most easterly and underused regional airport. Like LCY it is about 45 minutes by road from the 2012 London Olympic site. Planning permission for Southend Airport’s first dedicated railway station has been given the go-ahead, with work Artist’s view of new Southend. due to be completed by 3Q 2009. The new owners will also inherit permission to extend the airport’s runway by 300 meters. With London’s other business airports already overcrowded, Southend could well become an important destination. Bizav-related companies already based there include Flywatch Air Services, Kudos Aviation, Trans Euro Air, The Flight Centre and 24/7 Jet.—Mike Vines First Airbus jet VIP-configured by Airbus itself rolls out of former Sorgerma hangar in Toulouse. Airbus Outfitting Delivers First ACJ The Airbus Corporate Jet Center (ACJC) in Toulouse, France, recently completed its first VIP-configured cabin interior for an Airbus Corporate Jet. The airplane features a VIP lounge, business-class seating and an area for support staff. ACJC is a joint venture by Airbus (60%) and Comlux Aviation, the Zurich-based charter, management and sales outfit (40%). It succeeds EADS Sogerma, which formerly occupied the 102,250-square-foot hangar facility where it completed several VIP aircraft. Many of Sogerma’s engineers and craftsman have continued with ACJC. Airbus and Comlux management created ACJC to address the strong demand for even more cabin outfitting capacity in the corporate market for new aircraft as well as 80 cabin refurbishing, especially in Europe. The partners are investing $11 million in modernizing and expanding the facility, which will specialize in completing VIP versions of A320 family aircraft. According to ACJC CEO Benoit Defforge, his operation plans to outfit “several” aircraft annually. Airbus has now sold more than 150 corporate jets in sizes ranging from the A318 Elite up to the A380 Prestige. Airbus Corporate Jet customers are served by a worldwide network of approved cabin outfitters including ACJC in Toulouse, Associated Air Center of Dallas, Texas, Fokker Services of Amsterdam, Gore Design Completions of San Antonio, Texas, Jet Aviation of Basle, Switzerland and Lufthansa Technik of Hamburg, Germany. —Jim Swickard May 20, 2008 www.aviationweek.com/shownews http://www.aviationweek.com/shownews
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.