Ex-CEO to re-start Grob Aerospace's Light Business Jet programme

Efforts by former Grob Aerospace chief executive, Niall Olver, to string together a deal in an effort to revive the failed enterprise are underway. Olver is trying to put together a new set of investors who would fund the development of the SPn light business jet. Work on the programme was suspended when the group had to initiate insolvency proceedings last year.

The SPn assets are held by a new, and unnamed, company wholly owned by the creditor. The insolvency process is over and the German administrator is no longer involved in the sale of assets of the group's Germany-based operating company Grob Aerospace GmbH.

Reportedly the main creditor has now mandated Olver to assemble a group of new investors to buy the company holding the SPn assets.

Olver has reportedly informed sections of the media that almost two-thirds of former Grob engineers have indicated that they would return to the programme. If so, then certification work could resume immediately after the ownership issue is resolved.

An option under consideration is the establishment of a fund with which new investors could jointly buy the SPn assets from the main Grob Aerospace creditor.