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Tue, Oct 16, 2007

Liberty Obtains Major Debt Financing

Liberty Aerospace, Inc., the manufacturer of the Liberty XL-2, tells ANN that they have closed a major debt financing which will allow Liberty to significantly expand its production capacity to meet 'growing U.S. and international demand for the Liberty XL-2 aircraft.'  The financing was arranged by Kuwait Finance House (Bahrain), which manages Liberty's major shareholder, Fernas Europe slf.

"The decision to raise finance for Liberty's expansion plans was based on the strong worldwide demand for Liberty's XL-2 aircraft which has been achieved by Liberty's exceptional leadership team and dedicated work force. The finance is important as it gives strength, stability, and resources to Liberty that will culminate in Liberty's further success in aircraft sales." said Mr. Abdulhakeem Alkhayyat (shown below, left, with Liberty's Keith Markley) - General Manager of Kuwait Finance House (Bahrain) B.S.C., and director of Liberty.
"With the global market rapidly expanding, and the ease in which the XL-2 is exportable, Liberty will become the premier two-seater, all-purpose aircraft, worldwide," stated Keith Markley. The allocation of funding is provided for ongoing expansion highlighting a variety of certification projects worldwide as well as an aggressive sales and marketing campaign.

Markley commented, "We are extremely excited that our investors and financiers take pride in our company and our accomplishments, and recognize the unique team that Liberty employs." Markley added that, "I would like to further acknowledge and thank our dedicated and talented work force for maintaining the highest quality and safety standards in the industry today." 



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