Cirrus update

Although there was news of some strategic partnerships and a new luxury trim level that facilitates customer's individual design requests (known as Xi), the subject that interested most people at yesterday's press conference was the Vision jet and Alan Klapmeier's plans to buy the project from Cirrus Aircraft.

Cirrus co-founder (and Alan's brother) Dale Klapmeier addressed the question before it was asked by explaining that Alan was indeed working on a deal, and that he is the only person that Cirrus Aircraft would even consider as a buyer. Dale (and later Brent) acknowledged that a team led by Alan using outside finance would be a win win situation. In response to a question from the audience, Brent Wouters said that Cirrus Aircraft would retain an unspecified percentage of any new company set up by Alan. Finally, should it prove impossible for Alan to raise the money and buy the project, Cirrus Aircraft would 'get it done' although both Dale and Brent said that this scenario would make it very challenging to certify the aircraft by 2012.