Air Transport World

AYRES CLOSES LET PURCHASE.(Brief Article)

After a year of negotiations, Albany, Ga.,-based Ayres Corp. has completed acquisition of LET of the Czech Republic for an undisclosed cash amount plus assumption of LET's long-term debt.

For Ayres, the purchase will yield more than expected initially. Explained LET Chairman Zdenek Pernica: "Ayres's initial contact with LET was focused upon the need of a manufacturing and engineering facility to design and manufacture the wings and empennage for their new LM200 Loadmaster cargo and utility aircraft. However, when they became familiar with the quality of LET's aircraft, they realized that the L420 and L610 complement the LM200 Loadmaster."

When combined, the $2 million 19-seat L420, $8 million L6lOG and the $4. …

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