Future EFT - RN, AAC & RAF
Thread Starter
Joined: Sep 2003
Posts: 183
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From: Back in Blighty
Future EFT - RN, AAC & RAF
Excuse my incompetence with pixels etc if the answers can be easily found elsewhere on the net, but as an underemployed Firefly instructor who could be seeking a new job in April 2010 does anyone know :-
1. What form the EFT organisation will have after July this year?
2. Is Grob bankrupt, and will that change MFTS plans again?
3. Will there be opportunities for aged aviators to get involved?
Regards from breezy Bahrain,
R
1. What form the EFT organisation will have after July this year?
2. Is Grob bankrupt, and will that change MFTS plans again?
3. Will there be opportunities for aged aviators to get involved?
Regards from breezy Bahrain,
R
Joined: May 1999
Aviation Qualifications: ATP+Mil
Posts: 27,402
Likes: 857
From: Quite near 'An aerodrome somewhere in England'
Hi Ray,
1. See http://www.ascentflighttraining.co.u...ss_release.pdf which describes MFTS.
2. Regarding Grob Aerospace, this is the latest news frome their website - I don't know whether it represents the very latest situation though:
3. [email protected] is possibly the person to contact regarding flight instructor opportunities.
1. See http://www.ascentflighttraining.co.u...ss_release.pdf which describes MFTS.
2. Regarding Grob Aerospace, this is the latest news frome their website - I don't know whether it represents the very latest situation though:
3 Nov 08 - Message from Grob Aerospace
As communicated a few weeks ago, Grob Aerospace GmbH in Germany had to file for preliminary insolvency on August 18th this year. This very unfortunate situation arose fairly rapidly as a result of the delays in the spn program which in consequence led to an increased cash requirement in order to complete the project. Thus our former loan provider elected to discontinue their support.
In Switzerland, Grob Aerospace AG had been granted the postponement of the insolvency by the competent Swiss Court until October 31st, 2008.
Since August 2008, both the Swiss and German administrators and the entire management team of Grob Aerospace, have been working jointly and relentlessly on a solution to secure an investment in the near future. We have been in discussion with a significant number of potential investors around the world. These interested parties included financial investors, as well as strategic investors already active in the aviation industry. A number of them have performed a due diligence process and are well advanced in the commercial and contractual negotiations. However, we have unfortunately not been able to finalize the transaction at this stage, and within the timeframe allowed by the court. Clearly, the worldwide economic crisis and shortage of financing capability has not helped us in this process.
In consequence, as communicated last week, Grob Aerospace GmbH in Germany has been declared insolvent on October 31st also expected that Grob Aerospace AG will be put in insolvency by the Swiss court in the coming days.
I am continuing the ongoing discussions with investors, and we still hope that a new investor will buy the assets of Grob Aerospace and will be in a position to continue the spn and the training aircraft programs, and to re-hire as many as possible of the employees under a new legal entity.
I would like to take the opportunity to thank you for the enthusiasm you have shown for the spn program and for the support afforded the Grob Aerospace management team. We have been overwhelmed by the understanding and encouragement from so many of our stakeholders over the past weeks, and shall remain committed to our vision.
Kind regards,
Niall Olver
CEO Grob Aerospace
As communicated a few weeks ago, Grob Aerospace GmbH in Germany had to file for preliminary insolvency on August 18th this year. This very unfortunate situation arose fairly rapidly as a result of the delays in the spn program which in consequence led to an increased cash requirement in order to complete the project. Thus our former loan provider elected to discontinue their support.
In Switzerland, Grob Aerospace AG had been granted the postponement of the insolvency by the competent Swiss Court until October 31st, 2008.
Since August 2008, both the Swiss and German administrators and the entire management team of Grob Aerospace, have been working jointly and relentlessly on a solution to secure an investment in the near future. We have been in discussion with a significant number of potential investors around the world. These interested parties included financial investors, as well as strategic investors already active in the aviation industry. A number of them have performed a due diligence process and are well advanced in the commercial and contractual negotiations. However, we have unfortunately not been able to finalize the transaction at this stage, and within the timeframe allowed by the court. Clearly, the worldwide economic crisis and shortage of financing capability has not helped us in this process.
In consequence, as communicated last week, Grob Aerospace GmbH in Germany has been declared insolvent on October 31st also expected that Grob Aerospace AG will be put in insolvency by the Swiss court in the coming days.
I am continuing the ongoing discussions with investors, and we still hope that a new investor will buy the assets of Grob Aerospace and will be in a position to continue the spn and the training aircraft programs, and to re-hire as many as possible of the employees under a new legal entity.
I would like to take the opportunity to thank you for the enthusiasm you have shown for the spn program and for the support afforded the Grob Aerospace management team. We have been overwhelmed by the understanding and encouragement from so many of our stakeholders over the past weeks, and shall remain committed to our vision.
Kind regards,
Niall Olver
CEO Grob Aerospace
