“This [sale] will allow us to achieve our business plan, and should remove all doubts about Mooney’s financial stability,” Barry Hodkin, MAC’s chief operating officer, said in a news release Tuesday. The three-year business plan, approved last month, calls for Mooney to sell more than 70 airplanes in 2004 (we didn’t really need one, but hey, if their goal is 70 …). The goal is more than twice Mooney’s 2003 volume. It also calls for new product features, wider sales presence, additional employees and improvements in production over the next three years. Hodkin said he expects FAA certification in August of two new models, the Bravo GX and the Ovation2 GX, both with Garmin G-1000 glass-panel displays. He also said MAC, which is based in Kerrville, Texas, has hired 20 new workers, bringing the workforce to 200 people, and he plans to hire more. MASG had bought the Mooney plant out of receivership in 2002.
…As Production Goals Ramp Up
Key Takeaways:
- A recent sale has secured Mooney's financial stability, enabling a three-year business plan to significantly increase sales and improve operations.
- The plan targets selling over 70 airplanes in 2004 (more than double 2003 volume), introducing new product features, and expanding sales presence and production.
- New Bravo GX and Ovation2 GX models, featuring Garmin G-1000 glass panels, are expected to receive FAA certification in August.
- Mooney has increased its workforce to 200 employees and plans further hires to support its growth initiatives.
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