KERRVILLE, Texas — After a five-year hiatus from manufacturing airplanes, Mooney will restart manufacturing at the beginning of January 2014. New funding from Soaring America Corp., a California-based company, will provide the capital to relaunch and sustain the legendary brand, according to company officials.
Details of the financial arrangements will remain confidential, Mooney officials noted. The company will manufacture the Acclaim Type S (pictured) and the Ovation series.
“It’s a new day for Mooney. And with a new investment group that is committed to the future, we’re expecting to make a strong move in the industry,” noted Barry Hodkin, Chief Financial Officer. “It’s been a long time coming and we couldn’t be more excited about our return to manufacturing one of the finest and most trusted airplane fleets in the industry.”
The first order of business will be to hire and train a new workforce and reestablish the supply chain, he noted.
The company is projected to recruit up to 100 people within the first year of operation. The company has a large variety of personnel needs that includes technicians, engineers, line workers, accounting and sales people. Within two years, Mooney is anticipating employing significantly more people, depending on the demand for its products.
“While we expect to be reunited with some of our previous employees, we are confident we’ll attract new talent as we re-enter this aviation space,” Hodkin said. “We’re looking for the best and brightest people to help meet our vision for the future.”
During the difficult economic times starting in 2008, when single engine sales dropped by more than 30%, Mooney ceased production, Hodkin explained. Over the last five years, the company that was started by Al Mooney more than 80 years ago has remained in business, focusing on customer support for the Mooney planes still in service.
Since its inception, the company has manufactured and delivered more than 11,000 aircraft worldwide. Today, more than 7,800 customers in the United States and 1,000 more overseas fly Mooneys.
For more information: Mooney.com