Cirrus Now Owned by Chinese Investors - So What?
As mentioned in a Cirrus Press Release and on AVweb, a Chinese company called China Aviation Industry General Aircraft Co., Ltd. (CAIGA) purchased Cirrus Industries Inc. at the end of February. There have been some mixed feelings about this deal, and we're still waiting to see if it's going to cause any major changes in the company.
The press releases and an article on Minnesota Public Radio were all sure to state that CAIGA has committed to keeping aircraft production at Cirrus' facilities in Duluth and Grand Forks. The company's leadership didn't change as a result of the deal. Overall, Cirrus seems to be plugging along as usual. They're building, advertising and selling airplanes...as well as anyone can in a tough economy.
There's been a lot of speculation that CAIGA's funding would be used to complete development of Cirrus' Vision Jet and finally get it into production. That'd be a major step for the company...they seem very confident in the market for the aircraft and it's a pity that worldwide economic troubles have stalled the jet's development.
There haven't been any major announcements about funding for the program, but the video below does detail what seems to be a very active test program. Maybe they're just trying to spin the slow progress by focusing on what they're doing to work toward certification.
Overall though, the Cirrus/CAIGA deal doesn't seem to have made much difference. What do you think? Is it meaningful that Cirrus is now a Chinese-owned company? Is it good or bad? Do you expect to see any changes the company or the way they do business? Leave a comment and let us know!