Boeing is to pull out of Aero Vodochody after six years as a 35% shareholder in the bankrupt Czech aircraft manufacturer. Boeing Cesk president Thomas Ryan says the withdrawal is "the best solution for all the parties involved".
Boeing will not demand CKr1 billion ($39 million) in compensation from the Czech government in exchange for its departure, as previously suggested, Ryan says (Flight International, 17-23 February). The company does not intend to retain any share of Aero Vodochody, but will continue to support it by supplying avionics for L-159 trainer/light attack aircraft and by helping with their worldwide sale, he adds.
Boeing's investment in the Czech aircraft manufacturer has been written off, according to Ryan, who blames a poor global market for military aircraft that he describes as "totally stagnating".
Source: Flight International
