Don't panic, but... Mooney Aerospace Group has filed a petition
for reorganization under Chapter XI of the U.S. Bankruptcy Code in
the U.S. Bankruptcy Court for the District of Delaware on June 10,
2004. The company 'intends to rapidly work to file a plan of
reorganization in the proceeding.'
This is NOT the Mooney Aircraft manufacturing company. This is the
older company that was once known as AASI prior to their taking
over the assets of Mooney and abandoning their attempts to develop
the Jetcruzer turbo-prop.
High Performance Aircraft Training, in conjunction with Lancair
International, Inc. hosted its third Ground School on May 16, 2004
in New Braunsfels, Texas.