Embattled Czech aerospace firm Aero Vodochody has sacked its president Antonin Jakubse as it faces up to a sharp fall in revenues and battles to find a buyer. The company was taken back into state hands last year after main investor Boeing pulled out. Its two flagship programmes – the L-159A advanced light combat aircraft and the Ae270 single-turboprop utility aircraft being developed jointly with Taiwan’s Aerospace Industrial Development – are languishing, and aerostructures and rebuild work on older trainers are its sole revenue streams. The Czech ministry of industry said in May that Aero Vodochody would be offered in a public tender and, if no buyer came forward, the government would file for bankruptcy early next year (Flight International, 17-23 May). Vice-president for finance Petr Klimes has been appointed president. The company says it faces a “critical drop in revenues” in 2005 after its contract to supply and support 72 L-159As for the Czech air force ends.
Source: Flight International
