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Diamond Aircraft receives Government of Canada investment

Feb. 19, 2008, London, Ont. - The federal government has announced a $19.6-million repayable investment in London's Diamond Corp.'s D-Jet program.


February 19, 2008
By Carey Fredericks

djetFeb. 19, 2008, London, Ont. – Diamond Aircraft received a $19.6 million strategic, repayable investment from the Government of Canada for research and development (R&D) of its D-JET, personal light jet. The company announced it will manufacture the innovative, new all-composite, five-seat aircraft at its facility in London, Ontario, where the D-JET R&D program is based.

The Honourable Jim Prentice, Minister of Industry for the Government of Canada, announced the investment during a briefing at Diamond Aircraft’s London facility.

The Canadian government’s investment project will be funded from the new
Strategic Aerospace Defence Initiative (SADI).  SADI supports strategic
industrial research and pre-competitive development (R&D) projects in the
aerospace, defence, space and security (A&D) industries.  SADI is managed by
the Industrial Technologies Office, a special operating agency of Industry
Canada with a mandate to advance leading-edge R&D by Canadian aerospace and
defence industries.

“This investment will play a vital role in enabling our company to complete
the final development, flight testing and certification of the D-JET, and to
complete our transition to production,” said Peter Maurer, president of
Diamond Aircraft Industries. “There is already tremendous demand for this
new aircraft and we are excited about the opportunity to grow our already
proven, world-class team and operation here in southwestern Ontario to
deliver D-JET to our customers worldwide.”

The Diamond D-JET is poised to be the most attainable personal light jet –
offering a very comfortable and stylish design; affordable single-engine,
fuel efficient operation; and the safety and reliability of the latest glass
panel avionics, engine and aeronautical technology.  The $95.2 million D-JET
R&D program began in 2003.

Diamond’s London operation today produces its DA20 two-seat aircraft, DA40
family of 4-seat piston aircraft, and the DA42 light twin turbo-diesel
aircraft. Diamond employs 580 people in Canada and has pioneered the
development and manufacture of aircraft using carbon fiber and related
composite materials that are stronger, lighter and more durable than metals.

About Diamond Aircraft: Diamond Aircraft is the third largest producer
worldwide of airplanes in the under-three-ton weight class. Diamond builds
the safest, most efficient general aviation (GA) aircraft flying today.  The
Diamond group of companies has manufacturing facilities in Canada, Austria,
China, and Germany that provide aircraft, type-specific flight training
devices, and related general aviation products and services. The company
employs more than 1,500 people worldwide, including 580 people in Canada.

For more information about Diamond Aircraft, please visit
www.diamondaircraft.com