728 proprietor files for insolvency
Fairchild Dornier Aero Industries has filed for bankruptcy protection in a German district court, virtually ensuring the end of the latest attempt to resus

Fairchild Dornier Aero Industries has filed for bankruptcy protection in a German district court, virtually ensuring the end of the latest attempt to resuscitate the long-foundering 728 regional jet. The company’s primary shareholder, Chinese investment firm D’Long, has cut off all funding for the enterprise after subsidiary D’Long Europe failed to attract any serious interest from outside investors.

D’Long’s quest to resurrect the 76-seat jet started more than a year ago, when it paid $10 million for rights to the program. Since then it ran power-on static tests in February and scheduled the first flight of the first prototype this fall. Under that assumption, it said it could gain certification by 2006. However, a substantial barrier stood in its way—namely, a need for some $1 billion to bring the airplane to market and launch series production.