in Defence / General Aviation

Chinese take over Diamond for a GA jewel in the crown

Posted 27 December 2017 · Add Comment

Chinese automotive and aviation company Wanfeng has bought the majority of shares in Austria’s Diamond Aircraft, the fourth largest general aviation manufacturer in the world.

News of the takeover broke just as employees of the Wiener Neustadt factory were breaking up for their Christmas holidays.
Diamond also had a subsidiary business in London, Ontario, Canada, which Wanfeng had bought a major shareholding a year ago.
In a statement, Diamond’s CEO Christian Dries said: “Diamond is my life’s work. In the interest of a successful long-term future, we needed to find the right partner to continue our good work. Wanfeng and specifically Mr. Bin Chen share my vision of the future of general aviation and are investing for the right reasons, with a long-term strategy and the resources to see their vision through” 
Bin Chen, the new chairman of Diamond Aircraft Industries and chairman of Wanfeng Aviation and president of the Wanfeng Automotive Holding Group said: “Under the 25-year leadership of founder Mr. Christian Dries, the Diamond team has developed a broad range of superb aircraft that have gained worldwide respect for their performance, efficiency, safety and innovation. Based on this excellent foundation, we intend to take Diamond to a long-term leadership position in worldwide general aviation.”
Although producing a series of successful GA programmes, The DA-40, DA-42 Twinstar and more recently the DA-50 and DA62, the company has been focusing on military variants and has been progressing with autonomous aircraft development.
The DA50-V with the largest cabin of any single-engine piston airplane is expected to be certificated during 2018.

* required field

Post a comment

Other Stories
Advertisement
Latest News

AIX, WTCE, and PEC rescheduled for April 2021

Due to the escalation of COVID-19 globally, Reed Exhibitions today announced that the next edition of Aircraft Interiors Expo (AIX), World Travel Catering & Onboard Services Expo (WTCE) and the Passenger Experience Conference (PEC)

Podcast: IATA on industry crisis

Muhammed Ali Albakri, IATA Regional Vice President Africa, Middle East, talks about the latest cash and government challenges for a beleaguered aviation industry.

African carriers see fastest air cargo growth of any region

The International Air Transport Association (IATA) has released February 2020 data for global air freight markets showing that demand, measured in cargo tonne kilometres (CTKs), decreased by 1.4% compared to the same period in 2019,

Middle East and Africa Airlines revenue losses mount

The International Air Transport Association strengthened its call for urgent action from governments in Africa and the Middle East to provide financial relief to airlines as the latest IATA scenario for potential revenue loss by

African Airlines traffic slipped 1.1% in February

Following IATA’s latest analysis of demand for passenger air transport based on traffic data for February 2020 when there was a 14% plunge in demand (compared with Feb 2019), as the COVID-19 and associated travel restrictions began to be

Horizon Technologies secures new FlyingFish orders

Horizon Technologies has secured a £500+K order for an undisclosed quantity of FlyingFish SIGINT systems from a Sub-Saharan African country.

Airport Security SK0403240620
See us at
AVMENA20 BT1309100620