Action Aviation Investors is expected to complete by the end of the month its acquisition of struggling start-up Sino Swearingen Aircraft (SSAC). After investing more than $ 700 million in SSAC, the Taiwanese backers sold a majority controlling interest in the San Antonio, Texas-based company late last year to the investment group - a joint venture between the SSAC´s largest distributor, Action Aviation and ACQ Capital. A industry source says the new company was formed by Action Aviation to safeguard the future of the SJ30 aircraft programme.
Action Aviation is convinced that the sale will be a turning point for SSAC, which has encountered numerous problems since the certification of its SJ30 light jet in October 2005.
According to Flightglobal.com