Cash Infusion Allows Continued Development Of The 'Outback' Airplane

An agreement between Czech aircraft manufacturer Evektor and Malaysian company Aspirasi Pertiwi Sdn. Bhd. was signed in Kuala Lumpur on June 26th. The agreement marks the first large Malaysian investment in the Czech Republic, and the signatories say it is strategically important for both sides. Over the next several years, it is expected that the Malaysian investment will reach $200 million.

The agreement will enable Evektor to continue development and the eventual production of its multipurpose twin engine EV-55 Outback aircraft. The airplane is designed to carry 9-14 passengers.

The Malaysian company says the partnership with the Czech aircraft manufacturer opens the way
to cooperation in a number of technologically advanced areas which are a priority for Malaysia, such as aviation, car manufacturing, transportation equipment and new materials, all which are covered by the production and development program of Evektor.

Czech Ambassador Rudolf Hykl said the project is unprecedented in its economic cooperation between Malaysia and the Czech Republic. "The agreement will support not only the development of the aviation industry in our country, but it will also open other business and commercial opportunities for the Czech side in Malaysia," Hykl said. "Its implications reach also the area of technical education for Malaysian students in the Czech Republic in the future."

In addition to the EV-55, Evektor manufactures a line of small aircraft. It has produced more than 1300 EuroStar and SportStar models, which are operated in 50 countries worldwide.

Malaysia is currently the second largest export market for the Czech Republic in South East Asia.

(Image provided by Evektor)

FMI: www.evektoraircraft.com