General aviation aircraft manufacturer Diamond Aircraft has been sold to Australian businessman Peter Chambers for an undisclosed sum.

London, Ontario-based Diamond, which designs and builds the DA20 Katana range of two-seat single-engined light aircraft, has focused in recent years on the training market.

Observers, however, believe that the company's growth has been stymied by the relatively high costs of the $119,000 trainer. Chambers plans to restart development of the four-seat DA-40 programme.

Source: Flight International