OMF Promises Continued Support For Symphony Line Through Financial Crunch

Canadian-based OMF Aircraft is reinventing itself after the bankruptcy of its German parent corporation, OMF GmbH.  OMF Aircraft is in the process of securing new financing as it moves toward becoming an independent company that designs, manufactures, markets and supports the Symphony line of aircraft.

"The management team at OMF Aircraft is working hard to complete the details of our corporate restructuring, and to minimize the impact of OMF GmbH's bankruptcy on Symphony aircraft," said OMF Aircraft President Paul Costanzo. "The situation is rapidly evolving."

OMF Aircraft is applying to Transport Canada to reissue the Symphony 160's Type Certificate. The company will also be required to assume responsibility for the continuing airworthiness of the product line. OMF Aircraft expects to obtain a Production Certificate in the second quarter of 2004. At the same time, the company will be ramping up its production capacity in anticipation of aircraft deliveries in the third quarter of 2004.

The company says field support for its Symphony 160s is a high priority for the company. Symphony 135D and Symphony 250 - The development of these aircraft will be delayed, probably by about six months. Much of that time will be spent putting together a design and engineering team in Quebec, which has one of the world's largest pools of aerospace talent. "The Symphony 135D and Symphony 250 are essential elements of the future of OMF Aircraft," said Costanzo. "The company is eager to put together the team so these projects can continue to move forward."

The management team at OMF Aircraft says it's confident the company can move through this difficult transition period and into a strong and prosperous future. Most of the building blocks necessary for the ongoing success of OMF Aircraft are in place.

FMI: www.omf-aircraft.com