Lender balks at delays; Grob declares insolvency
Grob Aerospace GmbH filed for insolvency in Germany on August 18 after its main source of capital suddenly withdrew financial support for the new SPn light

Grob Aerospace GmbH filed for insolvency in Germany on August 18 after its main source of capital suddenly withdrew financial support for the new SPn light business jet program. Grob CEO Niall Olver said that the undisclosed investor had pulled out due to delays in the SPn certification program and resulting increases in the amount of money required to get the aircraft into service. Grob is urgently evaluating alternative means of financing the program and keeping its manufacturing arm in business.

On August 7, Grob flew the fourth prototype of the SPn for the first time. Until the latest news of further delays in the program, the SPn had been expected to complete certification during the fourth quarter. This now appears to be in doubt, although Olver insisted in a press statement that the new twinjet is “well on the way to achieving certification.”