Grob in Bankruptcy

[Flex-ible]

Grob has filed for the German form of Chapter 11 bankruptcy organization. This will certainly affect those that were going to fly their jet - but also potentially Flexjet since they were/are supposed to build the wing for the Lear 85.

 

[CL300Pilot]

Not just the wing, the fuelage as well. The Lear 85 was/is going to be all composite. However, Bombardier has stated that this will not effect the 85 program.

We will see.

 

[FastJP4]

I'm sure this will have an effect on the 85. Bombardier was counting on Grob's experience with composites for that project. I'm guessing it will at a minimum set the time frame back further, and may change the makeup of the aircraft itself. Time will tell.

 

[On Your Six]

I wonder what Alpha Flying is going to do now - especially since all of their ads for the last 9 months have included pictures of the Grob...

 

[bunman45]

Bankruptcy doesn't mean out of business. It just might have been the only way the company could keep the 85 on schedule.

 

[jonjuan]

I wonder what Alpha Flying is going to do now - especially since all of their ads for the last 9 months have included pictures of the Grob...

http://www.ainonline.com/news/singl...te-grobs-woes-planesense-stands-by-spn-order/

Despite Grob’s Woes, PlaneSense Stands By SPn Order

By Jennifer Harrington
August 21, 2008
Fractional, Business Aviation


http://www.ainonline.com/news/single-news-page/George Antoniadis, the president and CEO of Alpha Flying’s PlaneSense fractional ownership program, is standing by the company’s order for 25 Grob SPn midsize jets. “We do feel that it is the right aircraft for us, and at this time we’re sticking with it,” he told AIN.

“We have not canceled our order. Grob Aerospace filed for insolvency on Monday after a “loan provider” withdrew financial support of the SPn program.

Antoniadis said that if the program is delayed further, Alpha Flying will redirect its resources, including pilots, to its Pilatus PC-12 program. “Because of the time remaining until the anticipated introduction of the SPn, we have the flexibility to redeploy resources as we see fit,” he said.

Antoniadis added that he has planned the timing and resources to coincide with the airplane’s introduction late next year. “We were not expecting an airplane next month,” he said.

According to Antoniadis, his company has not yet released Grob SPn shares for sale, although it does have “strong interest” from customers.

 

[jonjuan]

Bankruptcy doesn't mean out of business. It just might have been the only way the company could keep the 85 on schedule.

Bingo.....

 

[av8orboy]

New buyer

 

[fischman]

The Lear 85 is a GREAT looking airplane.

 

[johnnyride24]

I'm sure this will have an effect on the 85. Bombardier was counting on Grob's experience with composites for that project. I'm guessing it will at a minimum set the time frame back further, and may change the makeup of the aircraft itself. Time will tell.

Bombardier hired the Grob enginers and brought them to Montreal.