Samsung Aerospace says that it needs to clear several major hurdles before it will be in position to reach an agreement with the receivers of Fokker and relaunch the bankrupt Dutch aircraft manufacturer.
According to officials close to the negotiations, the continuing talks centre on reaching a series of separate accords. "A deal is in progress, but is not yet closed as we have not reached agreement with all the various parties," says a Samsung source.
The most critical issue to be resolved is the role of the Dutch Government and the participation of Stork, which has acquired the company's product-support activities, in any new company. Samsung is also looking to enlist the support of an asset management company.
With time now running out, the Dutch Government has begun to signal its impatience with Samsung. "We're still waiting for Samsung to give us their business plan-they said they would give it to us as soon as possible and nothing has happened," complains the Dutch economics ministry.
Samsung, however, argues that the Dutch Government needs to first clarify its position and willingness to take a 15% share in Fokker. "Its a bit of chicken and egg situation," says a source. The Dutch Government, having been hurt by Daimler Benz, is thought to be reluctant to commit to a rescue without a seeing a convincing business plan. Stork is also talking about taking up to a 15% stake.
Samsung also wants to bring in a third party for leasing and financing support for any new aircraft produced. It estimates that there is a requirement for up 170 aircraft over the next six months which it could compete for.
Source: Flight International
