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Wed, Jun 15, 2011

Diamond Confirms Investment and Resumption of D-JET Program

Back To The Jet Biz!

Having more than its share of trials and tribulations, ANN was pleased to confirm that the Diamond D-Jet is getting back on track... Following layoffs and other reluctant steps taken to maximize cash flow while searching for enough funding to complete the program, it now appears that the D-Jet program can throttle up once again.

Diamond Aircraft has confirmed to ANN that it has obtained commitment for a significant investment exclusively dedicated to the D-JET development program. This investment will enable Diamond to recall furloughed engineering and technical staff, resume Flight Test operations and proceed towards building the next test aircraft, subject to finalization of closing arrangements.

Having recently completed several necessary piston development programs, Diamond's Austrian operations will now also provide engineering and technical resources to support the completion of the D-JET program, in the shortest possible time.

The company notes that it, "We especially wish to thank our customers and business partners for their continued loyalty. This investment marks a turning point and we are most enthusiastic about our opportunity to refocus on completion of the D-JET."

FMI: www.diamondaircraft.com, www.diamond-air.at

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