German aircraft maker Flight Design has run out of cash and filed for insolvency.
The managing director of Flight Design filed for insolvency in court with outstanding debts in the ‘mid-six-figure’ range.
The court appointed lawyer Marcello Di Stefano, a partner in specialist insolvency company Diligens, as provisional insolvency administrator.
Mr Di Stefano said, “The company’s order situation is good and the products have a very good reputation on the international market, and the outstanding debts are manageable.”
One of the first tasks is enabling the financing of business operations, said Mr Di Stefano.
“This would make it possible to maintain the Flight Design Group with its EASA Design and Production Organizations…
