The German manufacturer of the 328-jet program -- AvCraft
Aerospace GmbH -- has filed for insolvency. The next step includes
the probable shut-down of production for its 30-seater (formerly
Dornier) 328-jets, acording to European media reports.
Wolfgang Walter, director of the company is quoted as admitting
that "We expect the court to begin the insolvency proceedings
within the next few days."
Reporets indicate that the company ran into trouble as a result
of the delays in the sale of five of its aircraft to China's Hainan
airline Hainan. Avcraft failedto meet payroll last month for its
345 person workforce and is losing hope of obtainig an investor to
bail it out.