Comp Air Aviation is hoping to secure funding in the second quarter that should pave the way for the start-up manufacturer to accelerate development of its Comp Air 12, 10-seat, single-engined turboprop - the first in a family of all-composite certificated aircraft planned by the US kitplane builder.
Merritt Island, Florida-based Comp Air had hoped to secure $150 million in capital in 2008, but the financial crisis forced the would-be investors to withdraw the funding. "It was a tough time for us back then," says Comp Air chief operating officer Bill Fedorko. "We were told that funding was in place and we should announce it to the world. Then the banks collapsed along with our funds."
Comp Air has continued to develop the Honeywell TPE331-14GR-powered Comp Air 12, albeit on a much slower scale, supported by sales of its kit aircraft family. "We have continued to fly the prototype [which has notched up around 400h] and have been securing vendors for the programme, but we now need to build the first of conforming aircraft and get that flight-test programme under way," Fedorko says.
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Comp Air is establishing a facility in nearby Melbourne that will house its certificated aircraft business. Merritt Island will be home to Comp Air's kit aircraft line. "We would like to complete Comp Air 12 certification in around two and half years," says Fedorko. "But we don't want to rush into it and end up like [the many failed start-ups]."
Comp Air had secured around 35 letters of intent for the $3.12 million Comp Air 12 before the funding was pulled and interest in the programme remains strong, says Fedorko.
Comp Air also plans to develop a certificated version of its high-wing Comp Air 9 kitplane once its larger stablemate has received US approval. The prototype of the eight-seat, 250kt (460km/h), single-engined turboprop flew for the first time in 2008 and has reached 300h to date.
Meanwhile, Comp Air is preparing to fly in May its high-speed, six-seat, single-engined Comp Air 11 turboprop kit. Fedorko says the company will develop a certificated version of this low-wing aircraft "if demand dictates".
Source: Flight International
