Plane maker takes off with $125 million deals

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Securing $125 million of orders for its small planes in the last four months suggests bluer skies are ahead for local small aircraft manufacturer Pacific Aerospace.

Earlier this year, 27 jobs were lost from the Hamilton-based company as it struggled in the wake of the global financial crisis.

But demand from customers has returned, with an  $88 million order for 37 aircraft just secured from Russia.

This follows a $37 million August deal to supply 15 planes to China.

In today’s print edition of the National Business Review, Pacific Aerospace chief executive Damian Camp talks about the turnaround and new markets that are opening up in remote areas for its short-flight aircraft.


2 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

2 Comments & Questions

Commenter icon key: Subscriber Verified

I hope that they see the colour of the money, before they deliver to either of these two nations

Reply
Share
  • 0
  • 0

No one gets planes on credit these days

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6529 -0.0036 -0.55%
AUD 0.8847 -0.0182 -2.02%
EUR 0.6000 0.0004 0.07%
GBP 0.4194 -0.0017 -0.40%
HKD 5.0632 -0.0275 -0.54%
JPY 81.1800 -0.1890 -0.23%

Commods

Commodity Price Change Time
Gold Index 1089.2 -5.700 2015-08-03T00:
Oil Brent 50.2 -2.020 2015-08-03T00:
Oil Nymex 45.2 -1.860 2015-08-03T00:
Silver Index 14.5 -0.230 2015-08-03T00:

Indices

Symbol Open High Last %
NZX 50 5957.9 5957.9 5957.9 -0.40%
NASDAQ 5111.0 5125.9 5115.4 -0.20%
DAX 11408.2 11476.9 11443.7 0.11%
DJI 17596.9 17635.8 17598.2 -0.28%
FTSE 6688.6 6715.5 6688.6 -0.03%
HKSE 24364.4 24519.3 24411.4 -0.02%
NI225 20462.2 20552.0 20548.1 -0.14%