Grob Aerospace management says it has been encouraged by interest from investors and support from potential operators of the spn after the company filed for insolvency following new development program setbacks.

Niall Olver, ceo of both Grob and ExecuJet Aviation Group, says: "It is a testimony to all involved that, amidst this situation, our fourth prototype flew successfully on 7th August thus further demonstrating that Grob Aerospace is advanced on the way to certify an aircraft that well promises to meet its specification. Please accept that the severity and significance of this situation is not at all lost on us, and we are working relentlessly on a solution to ensure the minimum impact to employees, customers, other stakeholders and supporters."

The PlaneSense aircraft fractional ownership program says it has closely followed the developments leading to the declaration of insolvency by Grob Aerospace GmbH in the German courts. "We continue to stand by our fleet purchase order of 25 Grob spn aircraft," says George Antoniadis, president and ceo of Alpha Flying, Inc., the program manager for PlaneSense. "We believe that the Grob spn is the best large cabin light jet to fulfill the needs of the PlaneSense program participants. Its combination of large cabin size, fuel and operational efficiencies, and short field performance is unique. We look forward to hearing news of a prompt reorganisation of Grob Aerospace."

Other companies which have ordered the spn include Jetline which organised the delivery of two aircraft in mid-2009; Prestige Jet of Abu Dhabi, which lined up two spns for the end of this year; and ZAS Z-Aviation which wanted two aircraft in 2009. But Grob says: "Customers with a bank guarantee will get the full deposit refund should it come to it."

Olver maintains the position of ceo of both ExecuJet Aviation Group and that of Grob Aerospace. He says: "Whilst ExecuJet enjoys a close working association with Grob Aerospace, the two companies are totally separate, and thus the insolvency of Grob Aerospace has no direct bearing on ExecuJet. But it is important that the business aviation industry and our customers and suppliers remain assured in the knowledge that this unfortunate situation has no affect on the ongoing viability of the ExecuJet Aviation Group, and on that of the company's global aircraft sales and services business units."

He adds: "Whilst ExecuJet anticipates that spn sales and support will materially contribute to the company's long term business performance, even before considering the contribution of the spn, the group can confidently forecast a profitable future for ExecuJet as a global business aviation force, and the sales representation relationship in 33 countries. "The ExecuJet Aviation Group is, and remains the exclusive sales distributor of Grob Aerospace's spn light jet, and furthermore shall support the aircraft in many regions of the world. The spn remains an extremely promising product in ExecuJet's portfolio, as borne out by the significant customer demand, enjoyed to date. ExecuJet shall do all in its legitimate power to support both Grob Aerospace, and our mutual customers, over this trying time."

The spn program suffered in November 2006 when one of its two flying prototypes was destroyed during a demonstration flight crash near the company factory in Tussenhausen-Mattsies, Germany, and the then chief spn test pilot Gerard Guillaumaud died. Grob says that the effects of the latest spn program delays became apparent only recently. "The staff in Mattsies were informed promptly by Niall Olver and the German mds. We hope that this situation will be resolved within the next few weeks since Mr. Olver already has received some interest from possible investors."

Olver says: "This unfortunate situation has arisen as a consequence of recent delays in the spn program, resulting in the increased requirement for cash to see the program through to certification. Under the circumstances, our current loan provider has elected to discontinue their support. "In order to resolve the situation all possible alternatives are being evaluated. Given the significant support we have enjoyed to date, I remain confident that this disruption can be overcome."