Meijing Group, a Chinese real estate developer, is expected to buy Mooney Aviation Co., based in Kerrville, Texas, according to Bernama, which describes itself as a news portal for the National News Agency of Malaysia.
The deal is expected to be finalized in November, a Meijing Group executive told the publication.
The sale is expected to revive the manufacturer, which has gone bankrupt and changed ownership several times since its founding in Wichita by Albert and Arthur Mooney in 1929.
The company suspended production in 2009.
Never miss a local story.
Mooney spokesman Barry Hodkin declined to comment, saying he can’t confirm the reports.
“If and when we do have something to announce, we will issue a press release,” Hodkin said.
Mooney employs less than a dozen people today, who supply parts for the existing fleet. The company also is retaining its Federal Aviation Administration certifications, he said.
Meijing Group, registered in the provincial capital of Zhengzhou in 2002, plans to expand its business outside of real estate development.