Arising out of Moravan Aeroplanes’ purchase of the assets of bankrupt Let Kunovice in August is a new corporate entity called “Letecke Zavody,” or “LZ Aircraft Works” in English. According to CEO Libor Soska, “The creation of LZ Aircraft Works represents the first meaningful step since the early 1990s to reinvigorate the Czech aerospace industry.”
Helping to fund Moravan’s successful bid were investors Don Jewitt, CEO of and a principal investor in Alberta Aerospace of Calgary, and Milan Matusik, v-p of manufacturing for Alberta. Although Jewitt now has stakes in both Alberta Aerospace and LZ Aircraft Works, the two companies are completely separate, stressed Thomas Heath, who is acting as the North American spokesman for both companies. Alberta Aerospace, which also does business as Phoenix FanJet, is developing the two-seat SigmaJet and four-seat MagnaJet. Last year Alberta selected Moravan Aeroplanes to certify to FAA standards the production and detail tooling of the Sigma- and MagnaJets and thereafter produce complete shipsets of components for the airplanes.
More In Aircraft
