Mooney Airplane Company Announces Two New Aircraft Models; Ovation2 GX and Bravo GX Incorporate the Latest Avionics from Garmin
KERRVILLE, Texas, Feb 10, 2004 (BUSINESS WIRE) -- Mooney Airplane Company, wholly owned subsidiary of Mooney Aerospace Group Ltd. (OTCBB:MASG), has announced that it will offer the Garmin (Nasdaq:GRMN) G1000 all-glass integrated avionics system on the new Ovation2 GX and Bravo GX models beginning in the third quarter of 2004. The Certification Program is now underway and is expected to be complete by mid-summer. In the same announcement, Mooney also indicated it will continue to feature the current technology panel as standard on the current Ovation2 DX and Bravo DX models.
Commenting on the announcement, President Nelson Happy said, "Our basic strategy regarding any kind of modification or equipment change to the Mooney aircraft product line is to listen to our owners and to the marketplace in general before we implement anything. We do not make changes to our product unless we know that the change is right, that it represents a substantive improvement in the airplane and that it provides added value to our customers.
As far as the glass flightdeck is concerned, this is a project that we have been working on for two years. We compared and evaluated all potential competitive products and reached the conclusion that the Garmin G1000 was the right product for us and for our customers. The announcement we are making now is the result of years of work and thousands of hours of engineering effort."
Nicolas Chabbert, Mooney's Executive Vice President of Marketing and Sales, stated: "We are extremely excited about our ability to offer the best of both worlds in panel technology. The DX technology panel retains a reliable, accurate and proven presentation of data for the classic sense of flying. The GX Glass flightdeck, with its large screen displays and digital presentation of data, will meet all the requirements of the new generation of flying enthusiasts for whom the very latest in technology is a must. The G1000 is the most advanced flightdeck package available in a single engine piston aircraft today. It integrates all primary flight, navigation, communication, terrain, traffic, weather and engine data on two large 10.4 inch high resolution, glass, displays. The system will ease pilot workload and offers a new level of situational awareness during all phases of flight."
Chabbert continued, "We strongly feel that by offering both the DX and GX models, we have not only listened to our current Mooney owners but have made a strategic product decision that will benefit future Mooney owners."
Mooney Aerospace Group Ltd is a general aviation holding company that owns Mooney Airplane Company, located in Kerrville, Texas. Money currently sells three models; the highest performing four-place single engine piston powered aircraft, the Bravo DX, and its stablemates, the highly rated Ovation2 DX, and the economical Ovation. Mooney recently celebrated its 50th Anniversary in Kerrville, Texas where it has manufactured more than 10,000 aircraft that have been delivered worldwide. Complete information about Mooney aircraft is available at www.Mooney.com.
Garmin International Inc. is a member of the Garmin Ltd. (Nasdaq:GRMN) group of companies, which designs and manufactures navigation, communication and information devices -- most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. GARMIN is a registered trademark, and G1000 is a trademark of Garmin Ltd. or its subsidiaries.
This press release contains forward-looking statements within the meaning of The Private securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confidant that," "believe," "schedule," "expect," or "intend to," and similar conditional expressions are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
SOURCE: Mooney Airplane Company
Mooney Airplane Company, Kerrville
Nicolas Chabbert, 830-896-6000
or
PMR and Associates LLC
Patrick M. Rost, 858-350-0409
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