China's Meijing Group buys Mooney Aviation
from By Adam Hunt
The Mooney Aviation Company recently announced that it had been purchased by the Meijing Group of China for an undisclosed sum. The fact that Mooney had been looking for investors for a number of years is no surprise. The company had been struggling before the Great Recession, and then when it hit, Mooney was left with a fair inventory of unsold aircraft. The company ceased production Nov. 5, 2008, and laid off most of its workforce. The building of new Mooneys at the Kerrville, Texas, plant has not resumed since.
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