Return-Path: Sender: (Marvin Kaye) To: lml Date: Sun, 27 Oct 2002 08:44:45 -0500 Message-ID: X-Original-Return-Path: Received: from dc-mx10.cluster1.charter.net ([209.225.8.20] verified) by logan.com (CommuniGate Pro SMTP 4.0) with ESMTP id 1845899 for lml@lancaironline.net; Sat, 26 Oct 2002 23:44:18 -0400 Received: from [24.207.210.204] (HELO computer) by dc-mx10.cluster1.charter.net (CommuniGate Pro SMTP 3.5.9) with SMTP id 15586399 for lml@lancaironline.net; Sat, 26 Oct 2002 23:44:19 -0400 X-Original-Message-ID: <002d01c27d6b$849ab7e0$ccd2cf18@home.charterstl.com> From: "Bob Jude" X-Original-To: "Mail List Lancair" Subject: Lancair X-Original-Date: Sat, 26 Oct 2002 22:47:05 -0500 MIME-Version: 1.0 Content-Type: text/plain; charset="Windows-1252" Content-Transfer-Encoding: 7bit X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 6.00.2800.1106 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2800.1106 LANCAIR CLOSES DEAL WITH INVESTOR Lancair Company officials say they have found an investor and will receive in the coming weeks more than enough cash to continue the company's operations and rehire staff. Lancair had been looking for $25 million, but the pending investment apparently will exceed that amount. The investor has requested not to be identified, but will become a controlling partner. The deal could be concluded as early as November. Lancair chief Bing Lantis said that the company will stay in its present location, on its current business plan, and under the same management. Operations at the Lancair plant, shut down since July, will reopen in November with 99 percent of the former staff. Certification of the Lancair 350, the so-called all-electric airplane, is expected in January, with the Lancair 400 gaining certification as early as next April. There is a backlog of 180 aircraft orders for which deposits have been taken--half are 400s and half are 300s. There are 56 Lancair 300s currently flying. The company sold three 400s on Tuesday.