Mooney Airplane Aims to 'Lead with Speed'

When the FAA gave its approval this month, Mooney announced it upped the official cruise speed to 237 knots.


Through the first three quarters of 2006, the company reported about $25 million in revenue, but noted that many potential buyers were opting to put in reservations for an Acclaim and wait for shipments this year.

In October, Mooney Aerospace Group Holding Corp. -- a Swiss-based investment group that bought Mooney during its Chapter 11 bankruptcy -- announced its intent to take the company private.

Mooney was traded over the counter, but MAG Holding, which held more than 90 percent of the stock, filed a certificate of ownership and merger with the Delaware secretary of state's office -- with all outstanding shares of common stock to be canceled and stockholders to be paid 35 cents per share.

With its house now in order, Mooney management is optimistic about the year ahead.

"Speed sells. We expect the Acclaim to generate a lot of interest," Franson said, adding, "2007 is going to be an exciting year for Mooney."



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