Symphony Aircraft Industries has filed for creditor protection under Canadian bankruptcy laws. The company produces the Symphony 160 (a $160,000, 130 KTAS, two-seat high-wing) and is now seeking $6-10 million in fresh capital to continue operations at its Trois Rivieres plant in Quebec. CEO Paul Costanza told AVweb yesterday he’s been having trouble raising venture capital in Canada and is considering moving the plant to the United States. The company plans to hold a news conference, Tuesday.
Symphony Stumbles Through Its Score
Key Takeaways:
- Symphony Aircraft Industries has filed for creditor protection under Canadian bankruptcy laws.
- The company is seeking $6-10 million in fresh capital to continue operations for its Symphony 160 aircraft production.
- Due to difficulties raising venture capital in Canada, Symphony Aircraft is considering moving its plant to the United States.
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