Loadmaster in limbo as Ayres fades away | Aviation International News

Loadmaster in limbo as Ayres fades away

Ayres Corp.

By AIN Staff • AIN Staff

May 7, 2008

Ayres Corp. is no more and the prospects for the Loadmaster LM200 are now bleaker than ever. On August 7, GATX Capital, which had been operating Albany, Ga.-based Ayres Corp. using “debtor in possession” financing since Ayres entered Chapter 11 bankruptcy in November last year, foreclosed on the debt-ridden company. As legally required under such a transaction, the name of the company was changed; hence, Ayres Corp. is now Quality Aerospace.

Former Ayres CEO Russ Heil, who had been appointed by GATX Capital after Ayres declared bankruptcy, resigned the day before the foreclosure and all but six employees were laid off, with former plant manager Milt Humphreys left in charge.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.

Bye’s eFlyer 2 Electric Trainer Makes First Flight

Conforming prototype flew for about five minutes near Denver

eFlyer 2 in flight

Starfighters Space Sells Mach 2 Testing by the Sortie

Company says F-104 Starfighter jets offer a “wind tunnel in the sky”

Two Starfighters Space F-104s in flight

Australia Boosts Capability With Trio of ISR Platforms

Fleet now includes MQ-4C Triton, MC-55A Peregrine and the P-8A Poseidon

Royal Australian Air Force P-8A Poseidon and MC-55A Peregrine aircraft

Textron Aviation Marks Rollout of 500th Latitude

Aircraft entered service in 2015

Textron Aviation rollout of 500th Cessna Citation Latitude

Piaggio Marks Avanti’s Ruby Anniversary, 40+ Evo Sales

More than 270 Avanti variants have been delivered across four decades

Piaggio Aerospace Avanti Evo aircraft

F-35 Buy Approved As Saudis Struggle to Counter Houthi Threat

Trump administration says $24.3 billion deal will bolster Saudi Arabia's self-defense capability

Formation of three F-35As against clouds

Boeing Freighter Saga Raises Doubts Over Radia’s WindRunner

U.S. start-up sees commercial and military use cases for its clean-sheet cargo lifter design

Radia WindRunner freight aircraft

AircraftPost To Host ‘Behind the Deal’ Session during NBAA-BACE

Panel will dissect a Gulfstream G650 transaction from four different perspectives