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Luscombe Hits the Dust.
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 |
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