**Cirrus Design Corp. is exploring a possible sale of the company or possibly going public, according to media reports, though a company official played down the idea on an air-industry Web site.
Arcapita Inc., an Atlanta investment firm that owns roughly 58 percent of Duluth-based Cirrus, is looking for a return on its investment, according to the Financial Times and the Wichita Eagle. Wichita, Kan., is the home of Cirrus’ chief rival, Cessna Aircraft Co.
Cirrus founder and CEO Alan Klapmeier, however, told the Aero-News Network Web site that the report of an immediate sale “could not be farther from the truth.” While Arcapita wants a return on its investment, the company is in no hurry to sell its stake, he said.
Officials at Cirrus, which has about $350 million in revenue, could not immediately be reached for comment. **