The Mooney Aerospace Group is claiming victory in its effort to revive the almost-defunct GA icon. CEO Nelson Happy said in a statement that in the first six months of the year the company finished and sold eight planes that had already been started before Mooney went bankrupt in 2001. With the addition of $1.35 million in parts and service, revenue for the first half of the year totaled $4.5 million. Happy said there is now an order backlog of 13 worth $5.4 million but it’s not clear how many will be all-new aircraft. He said the company, which bought the Mooney plant out of receivership in 2002, is pleased with its initial success. “Completing and delivering eight aircraft in the first half of 2003 is clearly an accomplishment our team at Mooney is quite proud of.” It also didn’t hurt that Plane and Pilot Magazine readers picked the Mooney Ovation 2 as their favorite new aircraft. Happy said they’re aiming to build 30 planes a year and achieve revenues of $15 million. A month ago, Mooney announced partnerships with several European companies and the launch of a two-place Light Sport category aircraft called the Toxo, a Spanish design to be built in Kerrville.
Mooney On The Mend
Key Takeaways:
- Mooney Aerospace Group reported a successful revival of the Mooney brand in the first half of 2003, selling eight previously started aircraft and generating $4.5 million in revenue, with an additional $5.4 million in order backlog.
- The company aims to build 30 planes annually and achieve $15 million in revenues, also noting the Mooney Ovation 2's recognition as a favorite new aircraft.
- Mooney is expanding its operations through partnerships with European companies and the upcoming launch of a new two-place Light Sport aircraft called the Toxo.
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