Martin Aircraft secures 12 months' survival funding, reveals $24m loss
Chinese shareholder to the rescue but another $20 to $30 million needed to fix engine flaw. UPDATE: Full-year accounts released.
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UPDATE: After receiving a $NZ10 million loan to keep it a going for the next 12 months, Martin Aircraft has released its accounts for the year to June 30.
They show a $NZ24.4 million loss, including a previously flagged $NZ17.6 million impairment.
The filing also confirms Martin needs more
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Martin Aircraft secures 12 months' survival funding, reveals $24m loss
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