WILL AMPHIBIAN MAKER SINK OR SWIM

06 Sep 2012

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LISA Airplanes, makers of the stunning Akoya Light Sport amphibian aircraft, has gone into receivership as it seeks new investors.

The company said this week that it had been financed from start-up in 2005 on up to 80% by private funds such as Business Angels, startup funds and investment funds.

In July this year, LISA Airplanes was finalising a fundraising bound to the commercial development of the company. The terms of negotiation anticipated a progressive and long term financing. As the selected investors were not able to fulfill their commitment, and the historical shareholders could not secure LISA Airplanes’ financial plan, the founders decided to place the company into receivership on 30 July in order to protect its future.

"This situation has no impact on our clients’ deposits, all of them being under a bank warranty," says LISA.

"A 6-month phase of observation has been granted by the Commercial Court of Chambery. During this period of transition, the team supports the managers to ensure a fast resumption of every activity.

"Indeed, the great response of the American market during the first presentation of the AKOYA at the Oshkosh AirVenture 2012 show, and the AKOYA’s extraordinary performance confirmed by more than one year of flight tests of the first preseries aircraft, create investment opportunities during the observation phase.

"With the coming financing plan, LISA Airplanes and its partners will be able to launch the AKOYA worldwide, expected by this new market of pleasure aviation."

The AKOYA is a two-seater amphibious airplane with a unique design and a wealth of features. From ground, water or snow, the AKOYA takes its passengers 1250 miles away (2000km) thanks to its impressive fuel efficiency of 42mpg (5,6L/100km) and can reach the speed of 135 knots (250km/h).

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LISA Airplanes

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