Dr Martin Prager, the main administrator for AvCraft Aerospace GmbH, has opened discussions with potential investors to purchase AvCraft Aerospace, the Dornier 328Jet production company, after it declared insolvency in March this year.

The company started the full production restart of the Dornier 328Jet in May 2004, but was faced with large financial operating expenses and cash flow suffered as the delivery of four aircraft was delayed.

“The financial standing of AvCraft in the US was simply not strong enough,” said Prager.

Working closely with the company’s md Wolfgang Walter, Dr. Prager, who is from the law firm PLUTA, believes there is a realistic chance that the company can survive intact and continue aircraft production. He is hopeful to secure a buyer by June 1.

“The barriers into the market of the aviation industry are high because the development costs are enormous,” said Prager. “However, we have a readily developed product, which has an outstanding reputation in the marketplace, and it is going to be extremely competitive in the next 10 to 15 years.”

The company reports an order book of four aircraft, plus 21 options.