More Signs Of The Times -- Diamond Restructures, Puts D-Jet On Hold | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 07.25.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.25.14 **
** Airborne 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **

Tue, Feb 26, 2013

More Signs Of The Times -- Diamond Restructures, Puts D-Jet On Hold

Temporary Lay-Offs Announced, Pending Restructuring

Diamond Aircraft Industries Inc. (Canada) and D-JET Corporation have confirmed to ANN the restructuring of Diamond's London Ontario based operations, citing continuing low piston aircraft sales, especially in the North American market, and the significant burden of its cost intensive D-JET development program.

In a cost cutting measure, the majority of the workforce has been issued temporary lay-off notices, pending implementation of restructuring plans.

“We want to hire back as many employees as possible, as quickly as possible, but the exact number and timing will be determined as we develop our restructuring plans in the coming weeks,” said Peter Maurer, President & CEO. “Regrettably we need to suspend activity on the D-JET Program, pending the securing of additional funding.”

Diamond Aircraft Industries Inc. is retaining a core group of employees to fulfill purchase orders for aircraft, parts and services and to provide continuing airworthiness and technical support.

This action is limited to Diamond's Canadian based operations only and does not involve the Austrian based, independently owned and operated, Diamond Aircraft Industries GmbH.

FMI: www.diamondaircraft.com

 


Advertisement

More News

Trig Avionics Announces New ADS-B Out Solution

TN70 WAAS GPS Receiver Optimized For Use With Other Trig Avionics Trig Avionics is introducing its new TN70 WAAS GPS with companion Antenna, optimized for use with Trig products.>[...]

ANN's Daily Aero-Linx (07.25.14)

Aviation Digital Data Service The Aviation Digital Data Service (ADDS) makes available to the aviation community text, digital and graphical forecasts, analyses, and observations o>[...]

ANN's Daily Aero-Term (07.25.14): Pitch Point

A fix/waypoint that serves as a transition point from a departure procedure or the low altitude ground-based navigation structure into the high altitude waypoint system.>[...]

Aero-News: Quote Of The Day (07.25.14)

"The final rule is now planned for, I think its December of 2017. That is later than the statute, which calls for a final rule by the end of 2015." Source: FAA's Associate Administ>[...]

ANN FAQ: Disqus

A Powerful New Tool For You To Use For Your Aero-Conversations Want to start a conversation about a story you've seen on Aero-News? It's even easier with Disqus, a powerful, web-ba>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC