2005 AirVenture Auction Ended In Failure

Just in time for the global economic recession, the assets of defunct planemaker Lake Aircraft are once again being offered for sale to, well... pretty much anybody with a healthy checkbook balance and a dream.

Noting Lake was "the only FAA-certified single-engine amphibious airplane produced in the world," erstwhile owner Revo Inc. says the offering "includes all of the intellectual property and equipment needed to manufacture the Lake Renegade, Seafury and Seawolf airplanes."

Revo purchased the rights to the Lake Aircraft company in the early 1970s, and has sporadically produced planes in the years since. The company has tried to offload Lake before; as ANN reported, an auction held at AirVenture 2005 ended after it failed to attract a single bidder, even after the initial price plummeted from $20 million to $3 million.

Revo notes the offered assets include the Lake FAA Type Certificate (#1A13), global manufacturing and marketing rights, component and assembly tooling, dies, jigs and engineering drawings for the Lake amphibian airplanes. A team of Lake experts will also be available to assist in the transition and continued production.

"Most importantly, there is no risk involved with development and certification because the Lake Amphibian is a certified and proven design," the company noted in a release issued this week on the sale. Revo also points out "aircraft produced by Lake are among the most popular amphibians ever built," and that "more than 1300 Lake amphibian aircraft are flying in over 50 countries around the world."

"The sale of Lake Aircraft is a rare opportunity to quickly set up manufacturing operations and continue production of the successful line of amphibious airplanes," said Revo president Armand Rivard. "In the worldwide general aviation market, the Lake amphibian has no FAA-certified competition in production today."

Whether that's a selling point, or a cautionary tale, is in the eye of the beholder... and the buyer.

FMI: www.lakeamphib.com