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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."
Luscombe Hits the Dust.
I followed the saga for a while. I even saw the origional proposal.
I felt that the concept was flawed. Even with resurecting the plane,
you still had a 60 year old design at a premium price. Now the demand
for a 60+ year old plane even though it was fresh off the factory
floor has a very limited draw.
Add in the bickering between the parties, the Luscombe association and
the Renesaunce people, and all the others, it was just more nails in
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