The financial records at French air charter operator Blue Line are being scrutinized following the company’s compulsory liquidation on October 6 with debts of €37 million ($52 million). The suddenness of the 200-employee company’s demise prompted the judge in charge of the liquidation to tap a certified public accountant to investigate Blue Line’s financial affairs. A preliminary report is to be released by year-end.
AINalerts » November 16, 2010
NBAA welcomed yesterday’s announcement that Rep. Sam Graves (R-Mo.) will serve as co-chair of the House General Aviation Caucus when the 112th Congress convenes in January. “We are pleased that Congressman Graves has agreed to serve as co-chairman of the House General Aviation Caucus in the new Congress,” said NBAA president and CEO Ed Bolen.
Platinum Jet chief pilot and cofounder Michael Brassington and his brother, Paul Brassington, a vice president and cofounder of the company, were convicted yesterday of “conspiracy to commit continuous willful violations of regulatory requirements for the operation of commercial charter aircraft,” according to the U.S. Department of Justice.
In the wake of mounting losses, Hawker Beechcraft chairman and CEO Bill Boisture announced on Friday that the Wichita OEM will “temporarily suspend production of the Hawker 400XP to realign supply with demand.” According to an SEC filing, the company expects to cease production and sales of the light jet for two years, with plans to resume production in early 2013.
Gulfstream Aerospace yesterday announced plans for a $500 million, seven-year expansion project at its Savannah headquarters “to ensure that the company is well positioned to meet future demand for business jets and support services.” The aircraft manufacturer entered into a 50-year lease with the Savannah Airport Commission to build additional facilities on 159 acres of airport land.