Fairline Boats

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This article is about the boat manufacturer. For the defunct airline, see Fairline.
Fairline Squadron Yachts outside Fairline's Ipswich testing facility
A 1990s Fairline Squadron
Fairline Squadron-
A Fairline Squadron at the 2011 Jersey Boat Show

Fairline Boats Ltd[1] is a British luxury motor yacht builder, owned by Alexander Volov and Igor Glyanenko.

Started in 1963 by Jack Newington, the company builds motor yachts in both its original Oundle base as well as in Corby, Northamptonshire

History[edit]

The company started when Newington bought a series of gravel pits on the River Nene and built the Oundle Marina. In 1967 he launched the first Fairline boat, a 19 feet (5.8 m) handcrafted glass-reinforced plastic river cruiser.[2] When Newington's son Sam, a former Royal Air Force pilot and Columbia University MBA graduate, took over in 1971, the company employed fourteen people. Sam expanded the companies sales network overseas to take advantage of the expanding Mediterranean market place – by 1979 the company employed 140 people and turned over £5 million, with production expanded by the success of 1977's Fairline 40 model.[2]

The company expanded in the 1980s developing lines of high speed cruising yachts. When Sam retired in 1996, the company expanded further by establishing Fairline Boats of North America Inc., creating a network of 35 dealers.[2]

In 2002 the 10,000th Fairline was completed, together with new production facilities at the original Oundle site. By 2010, the 12,000th Fairline was completed and shipped, namely a Squadron 55 to a client in Italy. The Fairline Owners Club was founded in 2003,.[3]

In 2006 the company was purchased by 3i.[2]

The company launched the Fairline Targa 38 in 2006 and it has been one of the fastest-selling models in the Fairline range, winning the prestigious European Powerboat of the Year in the 30 ft (9.1 m) to 40 ft (12 m) category in 2007.[4]

Fairline was purchased by Better Capital and RBS in July 2011.[5]

In September 2015, Fairline was bought by luxury brand group Wessex Bristol.

In November 2015, Fairline proposed a company voluntary arrangement to its creditors, however in December 2015 Fairline entered administration.

In January 2016, Alexander Volov and Igor Glyanenko, UK-based Russian businessmen, purchased Fairline's assets for about £4 million. The new managing director, Russell Currie, said that the company, renamed Fairline Yachts, "would only need 100 people, compared with the previous workforce of 446".[6]

Range[edit]

The range presently includes the following models:

  • Squadron – first launched in 1991 with the Squadron62, a "large yacht" range
  • Targa – first launched in 1985, a series of sports style boats. The range is topped by the Gran Turismo models, first launched in 2003

As of 2012 the line includes sport cruisers from 38 ft (12 m) to 62 ft (19 m) with larger vessels being added to this growing category. The Squadron (Fly Bridge) line has a range of models from 42 ft (13 m) to 78 ft (24 m).[citation needed]

References[edit]

  1. ^ "FBL REALISATIONS LIMITED - Overview (free company information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 2016-01-27. 
  2. ^ a b c d Back Targa 62 GRAN TURISMO more (2015-12-02). "Luxury Motor Yachts". Fairline.com. Retrieved 2016-01-27. 
  3. ^ [1][dead link]
  4. ^ "Boat Buyers Guides". Rightboat.com. Retrieved 2016-01-27. 
  5. ^ Nick Burnham (2011-07-12). "Fairline is bought by Better Capital Limited and RBS - Motor Boat & Yachting". Motorboatsmonthly.co.uk. Retrieved 2016-01-27. 
  6. ^ Rob Davies (1970-01-01). "Fairline Boats former staff 'queuing at gates' to work after Russian takeover | Business". The Guardian. Retrieved 2016-01-27. 

External links[edit]