GRAHAM WARWICK / WASHINGTON DC & ARIE EGOZI / TEL AVIV
Competitive market fails to deter US company from bid to launch six-seat twinjet for air taxi and fractional use
Another company has declared its intention to enter the increasingly crowded light business jet market. Avocet Aircraft is working with Israel Aircraft Industries (IAI) on definition of the Professional Jet (ProJet), which is aimed at the high-utilisation air taxi and fractional ownership sectors rather than the personal jet market.
IAI's experience in designing and certificating business jets, including the Gulfstream G100 and G200, is key to Avocet's plans. The Israeli manufacturer has been working with the Westport, Connecticut-based company for over a year and has been paid $1.5 million to take part in the definition study.
The two companies have signed a memorandum of understanding under which IAI would be responsible - probably as a risk-sharing partner - for certification of the aircraft and production of airframes for final assembly in North America. Avocet plans to complete definition of the aircraft by mid-October, says chief executive David Tait.
Avocet is taking "pre-orders" for the six-seat twinjet, secured by a $5,000 refundable deposit. After completion of the definition phase, position holders will have 30 days to make a substantial downpayment of at least $25,000. Avocet plans to fly the aircraft in mid-2005 and is aiming for certification and first deliveries by late 2006.
IAI sources say the manufacturer will decide whether to join the programme by mid-2004. The definition study will have to answer questions about the potential market size and the aircraft price, say the sources. But Ofer Shifris, general manager of new aircraft programmes, says IAI believes the demand for an air taxi exists.
Avocet has a target price of $2 million for an aircraft similar in size to Cessna's $4 million Citation CJ1 light jet and larger than the $2.6 million Citation Mustang and other entry-level jets (see table). "IAI is confident we can bring the aircraft in for under or around $2 million," says Tait. IAI is the "cornerstone of the project", he adds, because using an existing aircraft manufacturer will reduce the programme's cost. Avocet has yet to raise the money needed to take the aircraft into production, but says it is "well capitalised for where we are".
IAI is selecting programme suppliers, with the engine choice likely to be between the 1,300lb-thrust (6kN) Pratt & Whitney Canada PW615 and the Williams International FJ33. The all-metal Avocet will be designed to fly 1,500-2,000h a year, compared with 500-800h for a private jet, with only "basic maintenance" during daily operation.
Source: Flight International
