Reims Aviation cites cash-flow crisis as it files for bankruptcy protection
French utility aircraft builder Reims Aviation went into bankruptcy protection on October 30.

French utility aircraft builder Reims Aviation went into bankruptcy protection on October 30. A company statement said the move was forced by a cash-flow crisis rather than a lack of orders. This was partly due to payment problems with its aerostructures contract for bankrupt regional jet manufacturer Fairchild Dornier (for which it had been building tooling and rigs) and financial penalties due to late delivery of F406 Caravan II surveillance aircraft for the Greek Navy.

Reims also markets corporate transport and commuter versions of the F406 twin turboprop. The turboprop-powered 404 Titan variant was developed and built under license from Cessna.