San Antonio location was sold and all operations returned to Kerrville. Development of the M20 continued and the M20R Ovation was released in 1994. It was designed to fill a gap between the normally-aspirated MSE and the turbocharged TLS, and it was powered by a Continental IO-550 engine. Of the 91 Mooney aircraft manufactured in 1995, 54 were Ovations. The M20M Bravo, a TLS with more power, and the M20K Encore, an M20K with more power, appeared in 1996 and 1997, respectively. 2000s In July 2001, Mooney entered yet another bankruptcy and under the leadership of J. Nelson Happy as CEO, the company was acquired by Advanced Aerodynamics and Structures Inc. (AASI) in 2002. AASI resurrected Mooney under the name Mooney Aircraft Company, Inc., a division of Mooney Aerospace Group, Ltd. Two years later in 2004, MASG (AASI) sold off the Mooney assets to Allen Holding Finance in May, and filed for bankruptcy on June 10. In December, MASG restructured and reacquired Mooney Aircraft Company from Allen Holding Finance. Gretchen L. Jahn joined Mooney in November 2004, becoming the first female CEO of a U.S. aircraft manufacturer. She oversaw the development and introduction of the M20TN Acclaim and the Garmin G1000-equipped Ovation2 GX and Bravo GX. In June 2005, Mooney added a second shift and 50 new workers to boost production. Mooney announced the release of the M20TN Acclaim on April 4, 2006, at the Sun 'n Fun fly-in at Lakeland, Florida. The M20TN also featured the Garmin G1000 glass cockpit, four heated, leather captain's chairs with lumbar support, a range in excess of , and a top speed of . At the time of its introduction, the Acclaim was the fastest single-engine piston-powered production aircraft in the world. Mooney was a publicly traded company after emerging from bankruptcy under the [symbol MNYG (OTC BB) until October 2006, when Mooney Aerospace Group arranged financing to buy out public shareholders. In late 2007, Mooney announced the arrival of its newest model, the M20TN Acclaim Type S. The Acclaim Type S added to the Acclaim's top speed to reach a speed of . Mooney achieved this performance gain through aerodynamic tweaks to the Acclaim's airframe. 2008 production halt On 16 June 2008, Mooney announced it would lay off 60 employees and cut production from eight aircraft per month to five. Mooney CEO Dennis Ferguson said: The reasons for the cutbacks and layoffs