A little background. Much of this is new to me so I am not sure how correct the article is. A potted history of Piper goings on during the era..
[Reprinted from Fliteguide / Imperial Aviation]
Popular opinion holds that Piper's big financial crash began during the mid-eighties. By this stage, the Piper family's involvement had long since terminated - emasculated by boat manufacture Chris Craft's attempts at taking control of the aeroplane company's voting stock in 1969.
Not long after this takeover debacle, Piper surrendered to US corporate manipulation. To avoid a hostile takeover and the almost certain asset stripping, which was at the time a fashionable and legitimate money making strategy, the old man, 'WT' Piper, relinquished control to the huge and multi-faceted holding company, Bangor Punta. In 1983, Bangor Punta, to stem increasing losses, sold to Lear Siegler. It didn't help. By 1987, total sales of piston-powered general aviation aircraft dropped to 1,085 airframes, the lowest number since 1947. Of those, Piper were responsible for less than 300.
The company was sold to US entrepreneur Stuart Millar for US$2.5 million. Millar managed to increase production but could not escape runaway liability costs. Moreover, Pipers were considered to be under priced. In 1991, the company filed for bankruptcy, a year in which Piper made only 41 aeroplanes. Now under Chapter 11, production was eked out for a further four years until it was finally placed under the ownership of investment company Dimeling, Schreiber and Park who retained 50%. The balance of shares were held by Teledyne and a creditors trust. Named 'The New Piper Aircraft Inc, headed by Charles Suma, Piper once again emerged from financial oblivion with an energy last seen in the good old 'WT' days.
Piper's history of financial distress has seen them through the disastrous downturn in light aircraft manufacturing during both the late forties, and seventies. In the company's heyday, during the sixties and early seventies, production approached 5,000 aircraft a year. 'WT' Piper died in 1970 at the age of 89. During his stewardship, he upheld a humble dogma of humour, hometown business principles with a straight-talking management style that commanded tremendous respect amongst his employees. His efforts at keeping his company's products cheap and simple however, often hampered expansion and he was always reluctant to embark on projects out of reach of 'the man in the street'. Bigger and more sophisticated aircraft were an anathema to WT.
It took some persuading for WT to accept there was a market amongst Piper buyers for a light twin.
When the decision was made to go ahead with the Apache, WT insisted it would be the cheapest on the market and indeed sold for US$10,000 less than Cessna's model 310.
When the first PA-28 Cherokee was launched in 1961, it was a triumph of low-cost manufacturing techniques. Like the Comanche that preceded it by four years, the PA-28 boasted Piper's all-moving horizontal stabiliser and swept tail. The aircraft was an immediate success and replaced the company's moribund and tired tube and fabric Tri-Pacer. Unlike Cessna, which spent vast sums in convincing people that flying light aircraft was not far removed from driving a car, Piper sold on price and low operating costs.
The demand for light aircraft continued to swell during the sixties and with it, manufacturers began offering wider product ranges. It was inevitable that Cherokee customers would demand greater carrying capacity and sure enough, Piper were obliged to come up with the Cherokee Six. In essence, the 'Six' added an extra four feet of fuselage length but it was also an entirely new airframe, not only longer but wider too with a far larger engine. The wings and rear fuselage though, were almost identical in size to a standard PA-28. Piper added an eighteen-inch extension between the firewall and cabin for use as a baggage compartment. Deliveries began in 1969 and the aeroplane quickly outsold its Cessna 206 Super Skywagon opposition.
In 1976, Piper introduced a retract version, calling it the Lance. According to Piper, in an effort to reduce the Lance's cabin noise and save weight, 1978 models were launched with a 'T' tai. This modification may have enhanced the aeroplane's looks but added nothing in terms of performance. The T-tail went a long way in improving the Lance's sled-like appearance but met with general disapproval from pilots complaining of increased takeoff runs and other handling indiosyncrasies, especially during rotation. Despite offering the Lance with either a normally aspirated or turbocharged 300hp Lycoming IO-540, Piper only produced the T-tail model for two years.
Although WT had passed away and ownership of the company was in the hands of Bangor Punta, Piper was still keeping abreast of fashion and making improvements to its existing designs. The most notable at that time was the introduction of the tapered wing in 1974.
It wouldn't be long before the larger singles also benefited. Sure enough, in 1978, Piper flew their newly named Saratoga with the modified wing.
First customer deliveries were made in 1981 and again there was a choice of either normally aspirated power or turbocharged. The turbo line was closed down in 1984 and with production down to less than 20 Saratogas per year, the normally aspirated line was closed in 1991.
When Suma's New Piper Aircraft Company got back on its feet, the Saratoga was once again available with a number of improvements. Piper's preference for developing its line from existing models is a throw over from the company's earlier days. Cessna did the same but to a lesser extent as witnessed by the Centurion, Cardinal and Skymaster. As a consequence, the Cherokee Six's plank wings, elongated nose and estate-car appearance have always looked awkward - more so from the pilot's seat, which almost has a taildragger view over the cowling. Nevertheless, Piper was selling utility and this is exactly what the customer got.
When the New Piper Company relaunched the Saratoga, it called it the II HP. On first acquaintance, it seemed the stylists had got the upper hand. The company has actually reduced window size and altered the nostril air intakes to a much smaller and more efficient size. Piper called the intakes 'axisymmetric' and a further benefit was a reduction in drag. The window size reduction did little to enhance visibility. However, it did a greatdeal to improve the slab-sided look so much a feature of the Cherokee-Six line. Piper also modified the interior by moving electrical switchgear to an overhead panel, giving the Saratoga an 'airliner' appeal. Moreover, substantial changes were made to the assembly stage which brought a reduction in lap joints and bigger skin panels.