The "right investment" has been secured for Britten-Norman, its chief executive has said.

William Hynett  has commented following Friday's news that the business has been saved, thanks to a sale which also secured 117 jobs.

He said: “The board has been in an extended process to secure the right investment that would allow Britten-Norman to deliver its plans to scale up output to meet demand.

"Britten-Norman is a brand with a rich and entrepreneurial aviation heritage which takes great responsibility in playing a vitally important role in supporting its world-wide customer base.

"These customers are the bedrock of their societies, often providing critical infrastructure or life-critical services such as maritime search and rescue and medical evacuation.

"Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy.”

Alex Silk, founder of 4D, said: “From the outset we saw the latent value in Britten-Norman, which has been underperforming since the pandemic.

"In addition to bringing working capital, our team will work closely with management to help the company ramp up production to meet the exciting demand for its sought after Islander aircraft.”

Britten-Norman is the original equipment manufacturer for the Islander, an iconic commercial light twin aircraft.

In 2024 the company will be celebrating 70 years since it was first established at Bembridge Airport.