MANAMA, 22 October 2004 — Kuwait Finance House, Bahrain has signed an agreement to acquire a 72.5 percent interest in Liberty Aerospace Inc., a privately held designer and manufacturer of single-engine piston-powered aircraft headquartered in Melbourne, Florida, US.
Liberty Aerospace was recently granted US Federal Aviation Administration (FAA) approvals in February 2004 to bring to market the Liberty XL2, the first all-new, two-seat aircraft to be fully certified in the US in the past 30 years. In addition, the company was awarded the 2004 International Aerospace Industry Award for general aviation at the annual aerospace industry awards held in Singapore in honor of superior aircraft design for the Liberty XL2.
This new revolutionary aircraft, best suited for the general aviation market, incorporates an impressive array of state-of-the-art design features and equipment, making it “the best, safest and most cost-effective aircraft of its kind in the market today.”
Commenting on the announcement, Abdulhakeem Alkhayyat, general manager of KFH-Bahrain said, “As the first new aircraft of its kind to be fully certified in the US in three decades, the development of the Liberty XL2 is a remarkable achievement that sets a new standard for this category of aircraft.