Aero-News: Quote of the Day

ANN's Quote of the Day usually derives from current news, though we reserve the right to pick quotes out of history that have a bearing on the day's events and issues.

Sometimes, you'll find them timely and in keeping with the content of the day's news... and sometimes, they'll just be thought-provoking.

Reader suggestions and comments are welcome... and if particularly intriguing, timely, or poignant, may themselves become future Quotes of the Day.

Let us hear from you, folks!

Aero-News Quote of the Day

"This reversal by TCM has put EAC in an impossible situation. The loss of cash flow from the FADEC engines means we cannot meet our obligations to our employees, landlords or our vendors. The lack of a FADEC equipped show plane this summer has resulted in very weak sales, so business going forward is not something we can bank on.

"Nancy and I have invested heavily in EAC, putting significant personal funds into the company right up until a few weeks ago. We believed we were going forward. With this development we now realize that we have no choice but to dissolve EAC as of this date and notice."

Source: Roy Davis, head of Express Aircraft, in a letter to friends and customers announcing the company had closed its doors. Express had a deal with TCM for FADEC engines -- but the powerplants never materialized. That, said Davis, left his company with no engines and no money. Hence, no company.

FMI: www.expressaircraft.com