GRAHAM WARWICK / WASHINGTON DC
Share price fall sees US-based company curtail work on FF-1080-200 twin-turboprop
American Utilicraft is hoping the new emphasis on homeland defence will create a market for its FF-1080-200 twin-turboprop freighter, as it struggles to finance construction and certification of the aircraft.
Having seen its share price fall in the wake of 11 September, the company has slowed detailed design work on the FF-1080 at risk-sharing partner Aerostructures.
The Lawrenceville, Georgia-based company is the latest new-aircraft venture to see homeland defence as a lifeline for programmes hit by the US slowdown.
Groen Brothers Aviation is promoting its Hawk 4 gyroplane for border patrol duties after being forced to shelve certification plans when financing dried up in the wake of the terrorist attacks.
American Utilicraft has responded to a US Department of Defense request for proposals on combating terrorism by offering the FF-1080 Freight Feeder for use by the US Postal Service to ferry mail to and from decontamination hubs.
The company proposes an initial fleet of 20 uncertificated versions be acquired to provide it with the funds and manufacturing experience to certificate the aircraft.
A 50-aircraft distributorship deal with the Netherlands-based North Atlantic Industries, meanwhile, has fallen through. The deal would have included a $1 million credit line which would have allowed work on a prototype to begin this year.
Largely supported by funds from existing investors, American Utilicraft now hopes to begin construction of a prototype in the first quarter of next year, says executive vice-president Jim Carey.
Source: Flight International
