Moravan wins tender for Let Kunovice assets | Aviation International News

Moravan wins tender for Let Kunovice assets

Czech bankruptcy administrator Zlatava Davidova has awarded the assets of bankrupt Let Kunovice to Czech lightplane manufacturer Moravan Otrokovice, ostens

By Gregory Polek • Senior Editor

May 19, 2008

Czech bankruptcy administrator Zlatava Davidova has awarded the assets of bankrupt Let Kunovice to Czech lightplane manufacturer Moravan Otrokovice, ostensibly ending a complicated tender process for the sale of the former Ayres Corp. subsidiary. Moravan, which plans to retain the Let name, expects to continue production of the 19-seat Let L-410 and its Westernized sibling, the L-420, as well as to pursue a number of new projects. According

to Davidova, Moravan emerged as the only bidder that complied with the rules of the tender. The company reportedly paid 140 million Czech crowns ($3.5 million) for Let–roughly the same amount paid by Ayres Corp. when it acquired the half-century-old manufacturer in August 1998.

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