Roy Norris, who led January's bankruptcy rescue of light aircraft manufacturer Mooney, has resigned as president and chief executive of parent Mooney Aerospace Group - but will continue as a consultant to the company. Chief operating officer Peter Larson will replace him.
Mooney's plan to acquire more general aviation aircraft product lines is unchanged, says vice-chairman Nelson Happy. Talks continue on acquiring the rights to Century Aerospace's CA-100 light business jet design. The company would like to add six-seat piston aircraft to Mooney's four-seaters, but Happy says the once-discussed deal to acquire Raytheon's Beech Bonanza and Baron line is "not an option".
Mooney says Norris stepped down "after accomplishing his goals". Happy says he had left sooner than expected because the acquisition went "so smoothly".
The manufacturer was bought out of Chapter 11 bankruptcy protection by Advanced Aerodynamics & Structures (AASI), which changed its name to Mooney Aerospace Group, and ceased development of the single-turboprop JetCruzer. Happy says former AASI investors who backed the Norris-led rescue remain behind Mooney.
Production has restarted at Mooney's Kerrville, Texas, plant, with a first aircraft delivered. The company expects to deliver 20-25 aircraft this year, and up to 100 next year.
Source: Flight International