Struggles plague aviation company
December 1, 2010, 04:19 pm
Poor economic conditions have forced numerous employers nationwide to slash staff levels to bare-bone minimums. The aviation industry isn't an exception.
Mooney Aviation Company used to boast approximately 500 employees in 2008, that number is down to just 53, but according to the Aircraft Owners and Pilots Association. Further reductions in staff levels could happen.
Mooney chief financial officer Barry Hodkin says business will continue at the company.
"However, we cannot continue to subsidize the company at the level we have in the recent past," says Hodkin. "We have been in discussions with potential investors for more than 18 months and will continue to work with them. If things change, then the scope of this layoff could change."
Mooney makes high-performance aircraft. While the company is struggling, Boeing recently announced plans to bring more manufacturing jobs to Georgia among other locations.
Many predict the need for aviation-related employees will recover due to an aging population and increased travel.
Nationwide, the unemployment rate has remained around 10 percent for much of the past year.
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