Twin Commander Aircraft has used the NBAA to announce a management buyout.
Jim Matheson, former general manager of Twin Commander and a group vice-president of its managing services company Precision Aerospace Services, has acquired Twin Commander Aircraft and will serve as president and chief executive.
The decision to buy the manufacturer, according to Matheson, was based on his fondness for the product. “Twin Commander was the first company I was responsible for at Precision and it’s always been my first love. I believe in the aircraft and the testimonials from owners say it all.”
Matheson, who is joined by his son as a shareholder, says his immediate plans for the manufacturer is to continue to support operators and service centers, focusing on innovations that add value and longevity to the fleet. “We’re far from finished with improvements to this airplane,” he says.
The company announced a robust orderbook with an increase of 20% of deliveries over 2004 and a projected 20% increase for 2006.
Source: Flight Daily News