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Fri, Jul 29, 2016

Lancair Announces Reorganization, Restructuring For 'Out Of Production' Aircraft

Focus Moving Forward Will Be On Growing 'Evolution Aircraft Company'

By Maxine Scheer

Lancair announced back in June that it was placing all assets, intellectual designs, and ongoing support business for all “out of production” Lancair aircraft kit models up for sale. The company said at the time that some 2,000 ‘out of production’ kits have been sold over the years, and 1,200 models are registered.

During a press conference Wednesday at AirVenture 2016, Kevin Eldredge, newly hired Director of Business Development, provided an update on the company's restructuring.

"We are looking for a partner that complements Lancair’s assets, and can provide upgrades, support, and may be considering a new aircraft but don’t want to come up with new design," Eldredge said. "We are actively looking for someone to buy Lancair assets and hope to have that completed in a couple of months.” Eldridge estimates sales associated with ‘out of production’ aircraft represent approximately 10% of Lancair’s current revenues, and is profitable, but could be enhanced with the right partner.

“Lancair’s customers have changed dramatically,” said Eldredge, as is the market. Twenty years ago there were not too many aircraft that could compete with Lancair, but today, with the exception of the Evolution, “there are many great aircraft.” He provided an anecdote of someone for whom a Lancair Legacy was a great fit with his need, but after pricing the market found that he could buy a Legacy, flying, with 300 hours in great condition for less than ‘the parts stacked on the floor,"

“There is nothing in the market that can compete with the Evolution," Eldredge noted the company is producing one Evolution aircraft every three weeks, and “unless something drastically changes with the market, after the first of the year, we will be ramping up to one every two weeks.” Eldredge estimated the piston version of the Evolution is now selling at two-to-three times that of the turbine.

(Image from file)



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