Bankrupt Czech aircraft manufacturer Let Kunovice has been sold to local aviation manufacturer Moravan Aeroplanes. The new owner will pay CzK200 million ($5 million) to acquire the Ayres-owned company which went bankrupt late last year.
Seven organisations, domestic and foreign, had signaled an interest in Let. However Moravan was the only party to pay the required deposit and proceed with an audit.
Moravan Aeroplanes is part of the Moravan Otrokovice holding company which has activities in several industrial sectors.
Patrik Joachimczyk, Moravan Aeroplanes vice president, says production of the L-410/420s twin turboprop 17-19 seaters will continue alongside the L-23 and L-33 gliders. The company hopes to improve the prospects of turboprop sales by improving product support.
"We will also integrate our new projects such as the Orenda E-600 powered Z400 Rhino and Phoenix SigmaJet trainer into the Let factory. Acquisition of Let is paramount to the long-term growth strategy of Moravan Aeroplanes."
There is also an unnamed project with an European aviation manufacturer, which according to Moravan was dependent on the purchase of Let. The only other solution was transfer of work to a Polish aerospace manufacturer.
The purchase does not cover the 40-seat L-610, which is to be sold separately. Production is expected to be transferred to a CIS nation.
However, the Loadmaster cargo project might still be profitable for Let if it can be rescued from the current Ayres bankruptcy proceedings. Ayres purchased Let to further its Loadmaster ambitions - it uses the L-410 tailsection design and was scheduled to manufacture sections of the aircraft.
The amalgamation of Moravan and Let creates a company with 2,000 employees in the aviation sector. Moravan produces the Zlin range of sport aircraft and last month signed a contract with EADS to supply fuselages for its Socata general aviation arm. It is also doing subcontract work for Aero Vodochody and Airbus.
Source: Flight International
