OSHKOSH — Airplane kit manufacturer Glasair Aviation has been acquired by Fang Tieji, chairman of Jilin Hanxing Group Co. Glasair manufactures the Glasair, Glastar and Sportsman aircraft, having delivered approximately 3,000 planes which are being built and/or flown all over the world.
Fang has formed Glasair Aviation USA as the new operating entity for Glasair’s product lines and plans to invest substantially in Glasair’s existing product lines, starting with certifying the Sportsman design, according to Mikael Via, president. “In addition, Mr. Fang plans to substantially grow Glasair Aviation USA by acquiring and consolidating additional airframe designs and other aviation related companies,” he said.
There are no plans to relocate or terminate any existing Glasair Aviation employees, Via added. Mr. Fang plans to retain Glasair’s U.S. headquarters, management team and employees.
“We feel this is an exciting opportunity to add strength to the company,” Via said on opening day of AirVenture.
Fang has business interests in real estate, chemical production, automobile and aviation. He plans to open up a network of FBOs across China in the next 10 years, as well as work with the Chinese authorities to get approval for homebuilt aircraft in that country.
Fang noted he is learning to fly now and hopes to have his private license by the end of the year.
Speaking through an interpreter, Fang noted that China is the largest potential market in the world and that this acquisition is the “first step in a long-term journey” to “fulfill our dream of having private planes flying all over China.”
For more information: GlasairAviation.com