Mooney Shuts Down

Discussion in 'The Okie Corral' started by LinuxLover, Nov 14, 2019.

  1. LinuxLover

    LinuxLover Ba-nan-nah-nuh

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    From AvWeb.com:

    Two weeks before Thanksgiving, Kerrville, Texas-based Mooney Aircraft has reportedly shut down and released its entire staff, the Kerrville Daily Times is reporting. The Times reported and we can confirm that Mooney’s voicemail system states that “At this time, all Mooney employees have been furloughed and therefore we cannot take your call.”

    mooney.jpg

    We (AvWeb) have been unable to reach any of Mooney’s staff or management, and we understand that the firm’s workforce was down to just 50 preceding the furlough.

    The death of another icon.

    That plane (above ^^) was selling for $850,000.00, which is 4.25 times what it sold for a few years ago - counting for inflation. .
     
  2. MB-G26

    MB-G26 Extraneous Lifetime Member

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    Damn. I easy remember my father basically lusting over locally-owned ones.
     
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  3. HollowHead

    HollowHead Firm member

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    I'm surprised we have any civil aviation manufacturers at all in this country. HH
     
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  4. WeeWilly

    WeeWilly

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    If you can't make it in this interest rate environment, they definitely were living on borrowed time.

    I know they had a strong airframe. A guy I knew who was an attorney, was flying IFR from the Bay Area to one of the LA airports. Just off the CA coast south of San Luis Obispo, he glanced up to notice in horror as his airspeed rapidly approached Vne. At that instant he broke out of the clouds and was pointed almost straight down. He instinctively yanked back on the yoke and really pulled some heavy G's. The plane pulled out of the dive and he got it leveled off and then responded to ATC that wanted to know what the hell he was doing.

    He fessed up and they diverted him to SLO. He felt the plane was not flying right, got down and when he stopped on the ramp realized he had added some dihedral to his wings and some buckled metal near the roots. They totaled the plane, but otherwise he wasn't the worse for wear. Had he been flying a 35 Model Bonanza, forget it.
     
  5. Inyo Tim

    Inyo Tim Senior Moment

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    A Chinese corporation bought Mooney, I wonder how that plays in?
     
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  6. PBCounty

    PBCounty

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    They had the coolest ads in Flying Magazine in the 90's.
     
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  7. HollowHead

    HollowHead Firm member

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    What put him into the dive in the first place? HH
     
  8. WeeWilly

    WeeWilly

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    I think inattention hand flying in IMC conditions. I got the story from him years later when I had to pick up a buddy at an airport who had been flying with him, practicing approaches and he totaled a P210. He was not a natural pilot.
     
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  9. WeeWilly

    WeeWilly

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    I didn’t realize that. How long had the Chinese owned it? Maybe they are planning to move production back to China?

    PS - I went back and looked and seems the Chinese company bought them back in 2013. There are a lot of Chinese companies that have borrowed a lot of money in the last 10 years to buy western assets. A lot of that debt is looking pretty weak. They may have pulled the plug.
     
    Last edited: Nov 15, 2019
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  10. ateamer

    ateamer NRA4EVR

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    No surprise. Mooney sold four planes this year. Cirrus has sold over 200.
     
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  11. ejjeff

    ejjeff

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    I miss my grass airfield.
     
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  12. PEC-Memphis

    PEC-Memphis Scottish Member

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    I like Mooney aircarft - a legacy of speed and efficiency.

    This makes me sad.
     
  13. LinuxLover

    LinuxLover Ba-nan-nah-nuh

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    Yeah - but at $850,000.00 each, ya only gotta make one or two a year to get fat.
     
  14. WeeWilly

    WeeWilly

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    Based on the results, it sounds like maybe more than two was the hurdle.
     
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  15. G19 DB

    G19 DB

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    They had a Mooney M20 for rent at our local FBO back in the 90's. About $200/hr wet. Sweet airplane, lots of nice avionics. Rented it once for an hour. Really nice, clean, fast airplane.

    This news makes me sad. :(
     
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  16. Rotn1

    Rotn1

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    It would be interesting to know the original motivation to sell to the Chinese.
    I assume it would be the "usual"........ Big cash payout.
    Some owners care about the future of the company when they sell; others do not.
    Too bad.
     
  17. Pandaz3

    Pandaz3

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    I flew a old one (M20 Ranger?) with a inside the cockpit fuel primer that would leak on you if you kept your feet on the pedals, flew good though. I flew a 231 and it impressed me.

    The employees have seen this upheaval before, sad as the new Acclaim has so much going for it. Priced less than a G-36.
     
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  18. army_eod

    army_eod US Army Retired, EOD, PM, PMP

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    Lawyers and government ruined the aviation business as usual
     
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  19. bipe215

    bipe215

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    The old Mooneys are great airplanes for the money. Fast and efficient. Easy to fly and decent short field ships. I prefer the old manual gear. They do have an issue with the fuel cells leaking that is a pain to fix.
     
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  20. airmotive

    airmotive Tin Kicker

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    Mooney goes bankrupt on a fairly regular basis. The name and TCs will eventually reach a price point where someone will figure they can make a small fortune out of their large fortune, and start producing airplanes again. An already-certified aircraft design is an incredibly valuable commodity. A design with a name buyers recognize, even more so.