[STARSHIP 2]

Det kjedelige med Mistral er at de akkurat sa opp endel folk, noe som vil forsinke sertifiseringen.. Får håpe den slår til etter hvert.

Mistral Slows Engine Work


Jul 21, 2009


Robert Wall/Paris wall@aviationweek.com


The slowdown in general aviation has driven Swiss rotary aircraft engine maker Mistral Engines to lay off staff and slow work.

The engine maker says it expects the slowdown to last six to nine months, after which it hopes to ramp up again. Also effected is development of the 300 hp G-300, which is being slowed but not halted.

Mistral this year sought a new round of capital to help transition to a full-blown production organization from a startup. But given the strain on financial markets, the capital increase has not been as successful as planned. In a statement, Mistral Engines says "although key potential investors have clearly demonstrated their interest to participate in this financing round, convinced about the potential of Mistral Engines' products and growth, the process was clearly impacted by the economic crisis. Investors are thus expected to join Mistral Engines' capital, but at a slower pace than anticipated."

The engine maker says the current situation is forcing layoffs at its Geneva site, with 11 persons affected. It is trying to protect development personnel and says it "will dedicate its activities and manpower almost exclusively to the certification of its 300 hp engine."

The company board has also approved a 1.5 million Swiss francs capital increase to help shore up its balance sheet. The engine maker remains fully financed by private equity. It expects to secure the additional capital in six-to-nine months, triggering the ramp-up of activities.

The engine maker was targeting an early 2010 FAA-type certification for the G-300, to be followed by approval from the European Aviation Safety Agency. That schedule is likely to slip, but by months, not years, says Philippe Durr, Mistral Engines's chief executive officer. "The target is still 2010," he says, but probably not the early part.

The long-term goal for the company is to reach 1,500 engine sales per year within five years.