Kate Sarsfield/LONDON
Alberta Aerospace (AAC) has been given the green light by a Belgian court to proceed with certification of the Phoenix FanJet. This follows a protracted battle with former investors in bankrupt manufacturer Promavia over the rights to the single-engined aircraft, formerly known as the Promavia Jet Squalus.
"This announcement clears the way for our Phoenix FanJet project to accelerate forward and complete FAA [US Federal Aviation Administration] certification of the world's first civilian single-engined jet," says AAC president Raymond Johnson.
The court officially ratified the asset sale agreement on 20 July, allowing Canada's AAC to purchase Jet Squalus developer Promavia's assets, including aircraft tooling, drawings and title.
The first Jet Squalus prototype was acquired by the Canadian company in 1996 after agreeing with Belgium's Promavia to build the Stelio Frati-designed aircraft under licence in Calgary.
The discord set in two years later when, having received only a part of the balance for the prototype from AAC, Promavia was declared bankrupt, owing considerable sums to private investors and Belgium's Walloon Government. Johnson says: "It become very nasty, with Promavia accusing us of causing its bankruptcy by not paying in full for the aircraft, but it wasn't true." The aircraft subsequently became the property of the trustees of bankrupt Promavia.
Following the court case, the trustees have approved AAC's finance package, consisting of a part cash payment and a sizeable portion of the royalties from the first 1,000 aircraft sold.
"Once we have all the drawings and documentation, we can submit the bidding packages to North American and European manufacturers keen to perform detailed and subassembly work on the aircraft. Final assembly will be undertaken at AAC's base in Claresholm, Alberta," says Johnson.
AAC, which claims to have invested millions of dollars in bringing the FanJet to a certifiable condition and designing and building a tailor-made electrical system, is seeking extra investment to fund the aircraft through to certification and first deliveries. Johnson says: "We have received two offers from private investors, each in excess of $10 million, which is sufficient to complete FAA [and European] certification on the first aircraft."
Two FanJet variants are planned, both powered by the Williams FJ44-1A turbofan. The first, a $1.575 million two-seat trainer aimed at professional pilots, is lined up for certification and first deliveries in 2000. AAC's $1.9 million four-seat model, aimed at private buyers, is to be certificated in the first quarter of 2001.
Source: Flight International
