Mooney Aerospace Group, Ltd. Announces A New 36-Month, 600-Hour Warranty; This Is The Longest General Aviation Warranty Available
LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 24, 2002--Mooney Aerospace Group, Ltd. (OTCBB: MASG) announced today that the company's limited warranty on proprietary Mooney-produced parts has been increased to three years or 600 hours, whichever comes first. This new warranty applies to all three airplanes produced by the company's wholly owned subsidiary, Mooney Airplane Company: the Mooney Bravo (M20M), Ovation2 (M20R) and Eagle2 (M20S).
"We are pleased to announce this extension of the Mooney warranty to three years or 600 hours. We are so confident in our airplanes and our production team that we see a clear opportunity to lower the cost of Mooney ownership through this extended standard warranty," commented L. Peter Larson, Chief Executive Officer of Mooney Aerospace Group.
The warranty service will be provided by any of the independent Mooney Service Centers or by the Factory Service Center in Kerrville, Texas. The warranty covers all Mooney-produced parts. The warranty excludes consumables and typical wear and tear.
"The customers that are buying our airplanes today tell us that we are producing the best airplanes ever. The team of highly experienced production workers, who have rejoined the company in the past months, make this level of quality possible. Given this quality level, it was an easy decision to extend the warranty," noted Jack Jansen, Chief Operating Officer of Mooney Airplane Company and manager of the Kerrville, Texas production facility.
The three Mooney models currently in production are delivered standard equipped with full IFR (instrument flight rules) instrumentation, an autopilot, and comprehensive and personalized flight training, and now the longest warranty in the general aviation industry. The company focuses on high utility options that include: Goodrich's SkyWatch(R) and Stormscope(R) systems, air conditioning and the TKS Certified Known Icing Protection System.
"We view this new warranty as an important milestone for Mooney. Since March, the company has resumed production, reinstated the service centers and rebuilt the parts supply," noted Nicolas Chabbert, Executive Vice President of Sales and Marketing for Mooney Aerospace Group.
Mr. Chabbert continued: "Today, customers tell us that total cost of ownership is important and we are dedicated to making our products the best transportation values for serious business travelers. We have had a great response from the market and airplanes are selling at an increasing rate. We anticipate reaching our sales goals by year end."
About Mooney Aerospace Group, Ltd.
Mooney Aerospace Group, Ltd. is a general aviation holding company that owns Mooney Airplane Company in Kerrville, Texas. Mooney Airplane Company currently markets three Mooney models: Bravo, Ovation2 and Eagle2. Mooney production began 53 years ago and over 10,000 airplanes have been delivered worldwide. Complete information on the Mooney Airplane Company and its products is available at www.mooney.com (http://www.mooney.com).
CONTACT: Eidson & Partners for Mooney Aerospace Group, Ltd.
Al Eidson, 816/474-0747
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