IAHL Corporation (IAHL)

[stockrat]

One circulating theory involves Britten-Norman. Under this scenario, the Britten-Norman division of B-N Group, would be responsible for building the Integrity. The Integrity is a variant of the Trislander which BN announced was to be built again back in 2003 but never did. There are some ambiguous references to negotiations to restart production which some have extended to believe that the design for the Trislander was sold and they needed to get it back. In any event, Trislander production never resumed.

B-N Group is now an amalgam of divisions. The aircraft building arm still builds Islanders and Defenders as well as final assembly for Cirrus. They, obviously, do work for other aircraft manufacturers. Rumor has it that the B-N branded aircraft division is doing very poorly (single digit airframe production per year) and some of the other divisions are doing much better. The privately held B-N Group might be very receptive to an outside tie-up either to unload the Britten-Norman or increase utilization.

Speculation of an IAHL tie-up increased with increased hiring by BN for its Isle of Wight facility for skilled trades and open positions in it's Cape Coral, FL office.

Britten-Norman's recent history involves nearly falling into receivership. Pilatus (another aircraft mfg.) took control and in turn sold the company to Biofarm, Inc. A shell corporation was established to purchase Britten-Norman Ltd. from Pilatus. (This is where you can see that an "empty" shell with no assets can buy something, it was done!) Without getting into all the sorid details, BN/Biofarm ended up in a tie-up with Romaero S.A.. Romaero is a leading aircraft assembly company and BN basic production was shifted to Romania. The Islanders and Defenders are built there, flown to Isle of Wight for final fitting.

BN Group also has a compostites production arm as well as a logistics arm and sales arms around the world.

Given the rumors of a poor fiancial condition at Britten-Norman, private ownership, other profitable groups within BN Group, the Trislander announcements, Florida connections and IAHL possession of partial Trislanders as well as a press release from London (near Isle of Wight BN HQ), some believe that this is what is afoot.

But, there is nothing to substantiate this.