Brian Whatcott
March 28th 10, 03:11 AM
An aircraft startup went into action about 12 years ago. To design and
certify an updated Luscombe 11, at Altus Oklahoma.
It was a struggle. The FAA requirements are very, very demanding. And
the new light aircraft market crashed 2 or 3 years ago, just as the
certificate was finally approved and they were ready to sell. So the
money ran out. And nobody wanted to finance another spell. So Luscombe
went bankrupt. That happens.
Friday and Saturday were the days set for auctioning off the goodies
left at the planmt. The parking lots were full.
The bidding went to high prices. Often higher than wholesale. On New
engines, all kinds of aero hardware, tools, machines, sheet 2024, 6061.
There was a line of about 8 production planes. They went for $70K
through $40K (the selling price visualized for a going operation was
around $100K, I believe,....)
The line of spare new aero engines - Lycoming, Continentals - $27k thru
$24K Higher than wholesale, people remarked.
Only the Certificate for the design rights went cheap: $500k they said.
So, the auctioneer did well. The City will scratch back a little of the
maney it funded. But the folks employed there are short of a job.
And people are saying, "A more frugal purchasing scheme might have
kept them going, long enough."
Ah well....
Brian W
certify an updated Luscombe 11, at Altus Oklahoma.
It was a struggle. The FAA requirements are very, very demanding. And
the new light aircraft market crashed 2 or 3 years ago, just as the
certificate was finally approved and they were ready to sell. So the
money ran out. And nobody wanted to finance another spell. So Luscombe
went bankrupt. That happens.
Friday and Saturday were the days set for auctioning off the goodies
left at the planmt. The parking lots were full.
The bidding went to high prices. Often higher than wholesale. On New
engines, all kinds of aero hardware, tools, machines, sheet 2024, 6061.
There was a line of about 8 production planes. They went for $70K
through $40K (the selling price visualized for a going operation was
around $100K, I believe,....)
The line of spare new aero engines - Lycoming, Continentals - $27k thru
$24K Higher than wholesale, people remarked.
Only the Certificate for the design rights went cheap: $500k they said.
So, the auctioneer did well. The City will scratch back a little of the
maney it funded. But the folks employed there are short of a job.
And people are saying, "A more frugal purchasing scheme might have
kept them going, long enough."
Ah well....
Brian W