Diamond success for Canada/China aircraft deal

 
 

A Diamond DA 40 aircraft. Photo credit - Pixabay

 

A new aircraft is being manufactured in Canada, thanks to investment from China.

 

The Diamond DA62 is a modern, seven seat, twin-engined aircraft, which until now has been manufactured solely in Austria.

Over 100 jobs will be created in Canada due to the opening of the new production line, with 50 orders already in the backlog.

The news follows our report from January, revealing that Wanfeng Aviation would purchase a 60 percent stake in the Canadian part of Diamond Aircraft.

As part of that deal, funding was made available to commence production of the DA40 and DA62 models in Canada.

Founded and based in Austria, and with a vast manufacturing facility and operation in London (Ontario), Diamond are responsible for a number of highly successful light aircraft.

Despite the popularity of its products, Diamond has been apparently struggling financially for several years. This has largely been due to its decision to design an ill-fated jet aircraft, which cost tens of millions of dollars to develop - yet only three aircraft were ever made.

Nevertheless, the company was pioneering in an initial deal it made with a Chinese company in 2005. Under the terms of that agreement with Shandong Bin Ao, some 500 DA 40 aircraft have been manufactured in Dagao annually for the last few years.





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