Diamond D-Jet

January 6, 2014 - 2:50am

The world’s economy, for the most part, is slowly and steadily improving, but that has not yet provided the general aviation industry with a shot in the arm. During the past year only two clean-sheet jet designs were formally unveiled–the Pilatus PC-24 and Dassault Falcon 5X–but these were known to be under way for many years before this year’s public program launches.

February 28, 2013 - 2:40pm

Medrar Financial Group never finalized the deal to acquire Diamond Aircraft, leading to the funding shortfall that resulted in layoffs and suspension of the D-Jet program on Monday, Diamond president and CEO Peter Mauer told AIN.

February 26, 2013 - 3:52pm

Canada-based Diamond Aircraft has again suspended its single-engine D-Jet program and has temporarily laid off the majority of its workforce while it restructures. “Regrettably, we need to suspend activity on the D-Jet program, pending the securing of additional funding,” said Diamond president and CEO Peter Maurer in a press release issued yesterday.

November 15, 2011 - 10:58am
Investor Medrar Financial Group wants to improve the market status of the D-Jet.

Medrar Financial Group of Dubai and Diamond Aircraft Holdings of London, Ontario, signed an agreement yesterday at the Dubai Air Show for Medrar’s acquisition of a majority interest in Diamond. The agreement does not affect Diamond Aircraft Gmbh in Austria.

November 14, 2011 - 11:21am
Diamond D-Jet mockup

Medrar Financial Group of Dubai and Diamond Aircraft Holdings of Austria have signed an agreement for Medrar’s acquisition of a majority interest in Diamond, the companies announced today. The agreement includes Diamond’s piston airplanes as well as its under-development, single-turbine D-Jet.

September 13, 2011 - 10:58am
D-Jet

Diamond Aircraft has secured an agreement for a fresh capital infusion that allowed the restart of its D-Jet program and restored the test aircraft to flight status. The Austrian-based aircraft manufacturer had suspended the single-engine jet program in March and laid off almost all employees working on the D-Jet at its London, Ontario facility after failing to obtain a new $36 million development loan from the Canadian government.

June 27, 2011 - 5:55am

Diamond Aircraft appears to have secured new funding that will allow it to resume progress on the single-engine D-Jet program. The funding–“a significant investment”–is dedicated to the D-Jet, according to Diamond, and permits the company to recall furloughed engineers and technicians, resume flight testing and build the next test aircraft. This is subject, however, “to finalization of closing arrangements” for the funding.

March 29, 2011 - 10:00am

Diamond Aircraft temporarily suspended its D-Jet single-engine jet program yesterday after a $35 million loan from the Canadian government failed to materialize. The company also laid off 213 employees associated with the program at its London, Ontario facility.

January 29, 2011 - 8:35am

Diamond Aircraft CEO Christian Dries is focusing “more on strategy and specific programs,” following the appointment of Gerd Berchtold as CEO of the company’s Austria-based production and engineering division. Berchtold is responsible for design, production and customer support and reports to Dries, who is the shareholder of Diamond Aircraft.

December 28, 2010 - 7:16am

For a year marked by a lackluster recovery in flight activity, tepid used aircraft sales and continued slow sales of new light and midsize jets, there was a surprising amount of activity in new aircraft programs.

 
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