US agricultural and cargo aircraft builder Ayres is set to purchase Czech manufacturer Let Kunovice after agreeing terms with the Government in Prague. A deal is due to be signed by the end of May.
Ayres is expected to take a 93% stake in the Aero Holdings-owned company. Fred Ayres, head of the US company, declines to reveal how much he will pay for the heavily indebted Let, beyond saying that it would be a mixture of "cash and debt".
Ayres is planning to plough over $15 million into the aircraft builder, which will become a sister company of Ayres.
The Czech company is designing and building the wings and empennage for the Loadmaster aircraft produced by Ayres. First deliveries will be to launch customer FedEx by the year 2000.
Let's own products include the Walter M601F turboprop powered L-420 and the L-610G, an L-610 re-engined with General Electric CT7-9Ds and fitted with Rockwell Collins avionics. While the L-420 has already been certificated in the USA, Ayres is aiming to attain European and US certification by the end of 1998 for the L-610G, which first flew in 1992.
Ayres says that its priority will be to boost the sales and marketing effort behind the two aircraft, forming a product range with the Loadmaster, which will see the L-410/420 priced at around $2 million, the Loadmaster at about $4-5 million and the L-610G at $7-8 million.
Source: Flight International
