Brent Wouters, president and CEO of Cirrus Aircraft, has offered assurances that his company’s debts to the Duluth Economic Development Authority will be repaid, according to a story in the Duluth News Tribune, which quotes Wouters as saying:
“If there’s one message I want to deliver, it’s that Cirrus is in a position today to work out any obligations we have with DEDA and the city. We appreciate the support we’ve received from the city and Duluth, and we’re ready to resolve any issues we have that are outstanding.”
After Wouters painted a grim picture of 2009 — production has fallen from 721 airplanes in 2007 to an estimated 280 this year, resulting in the layoffs of 850 people — he said he anticipates 2010 will bring stronger sales, including the delivery of 300 airplanes to individual customers and up to another 150 more to institutional clients that Cirrus has been courting. If that happens, it would put “Cirrus’ bottom line solidly back in the black,” the article says.
Read the full report here.