Bethany airplane company to close
Tuesday, January 18th 2005, 10:16 am
By: News On 6
BETHANY, Okla. (AP) -- A Bethany-based company that makes airplanes is shutting down and will sell its assets.
Commander Aircraft Company is asking a bankruptcy judge to convert its bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation.
The chairman of Commander's parent company says there are potential buyers of the company. Wirt Walker of Aviation General says the potential buyers are interested in staying in the Oklahoma City area.
Commander Aircraft built about 200 high-performance, single-engine airplanes between 1992 and 2002 in hangars at Wiley Post Airport.
The company reduced production after the start of a recession in 2001 and officials say the 9-11 terrorist attacks devastated the company and much of the general aviation industry.