Deliveries Increased 350 Percent in '03

Mooney Airplane Co. announced on Monday that in 2003 the company delivered 35 airplanes, a whopping 350 percent increase from the number of aircraft delivered in 2002. Deliveries included 29 Mooney Ovation2 models and 6 Bravo DX aircraft.

Mooney President J. Nelson Happy remarked: "We are very pleased with the company's sales and deliveries in 2003. It exceeds our expectations, and reflects the hard work that all of our employees put into restarting the company."

Sam Rothman, chairman of Mooney's board, stated: "We accomplished a great deal in 2003. We went from a production rate of one airplane per month to about five per month. We are now well positioned to increase production in 2004. We have proven that the company is back in business and ready to resume normal operations this year."

Nicolas Chabbert, executive vice president of marketing and sales for Mooney, stated: "In 2003 we re-established the confidence with our customers and we were able to sell an increased number of airplanes toward the later part of the year to traditional Mooney buyers. Our new airplanes were built to the highest quality standard in Mooney's 50-year-history. In 2004 we expect a number of important technological advances that will put Mooney at the cutting edge of general aviation technology. We also expect to increase sales to about 80 airplanes for the year."

Mr. Happy commented: "We expect to re-enter the international market with substantially increased sales in 2004 to take advantage of the favorable exchange rate which now exists, especially in Europe. We are optimistic about the company's opportunities throughout the world."

Mooney Aerospace Group Ltd. is a general aviation holding company that owns Mooney Airplane Co., located in Kerrville, Texas. Mooney currently sells three models; the highest performing four-place single engine piston powered aircraft, the Bravo DX, and its stable mates, the highly rated Ovation2 DX and the economical Ovation. Mooney is celebrating its 50th anniversary in Kerrville, Texas, this year, where it has manufactured more than 10,000 aircraft that have been delivered worldwide.

FMI:  www.mooney.com