Superior City Council Pays Off $2.66 Million Kestrel Loan
Sometimes you need to move forward. One of those forward-looking steps for the Superior City Council was to pay off the $2.66 million bond that they had secured on behalf of Kestrel Aircraft Company in 2012 - when the company was trying to build a manufacturing plant in the city; that deal dissolved when the company s leadership had a dispute with the State of Wisconsin. The move to pay off the bond was approved by the Superior City Council at their meeting on March 2.
The plans for Kestrel Aircraft and Superior were large in scope. Details released by the Superior Telegram show that there had been a promise of 600 jobs at a plant where Kestrel would build its K-350 model - a turboprop, carbon composite airplane . Kestrel had been making payments on the $2.66 million bond it had secured until October 2015. Since that time, the company has been in default on the loan.
Superior City Council Pays Off $2.66 Million Kestrel Loan
Sometimes you need to move forward. One of those forward-looking steps for the Superior City Council was to pay off the $2.66 million bond that they had secured on behalf of Kestrel Aircraft Company in 2012 - when the company was trying to build a manufacturing plant in the city; that deal dissolved when the company s leadership had a dispute with the State of Wisconsin. The move to pay off the bond was approved by the Superior City Council at their meeting on March 2.
The plans for Kestrel Aircraft and Superior were large in scope. Details released by the Superior Telegram show that there had been a promise of 600 jobs at a plant where Kestrel would build its K-350 model - a turboprop, carbon composite airplane . Kestrel had been making payments on the $2.66 million bond it had secured until October 2015. Since that time, the company has been in default on the loan.
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Credit: Joby Aviation
Stop me if you have heard this before: A whole new class of aircraft will democratize and revolutionize seemingly everything, starting with air travel. Will it be advanced air mobility or maybe very light jets?
Aviation consultant Brian Foley recalls the latter while thinking of the former, since both are in the news recently. Disruptive paradigms are not a new threat to aviation, even this century, he notes.
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