Groen Brothers Aviation (GBA) has abandoned plans to certificate the Hawk 4 gyroplane, blaming a lack of available financing exacerbated by the11 September terrorist attacks.
The Salt Lake City, Utah-based company has laid offtwo-thirds of its workforce and redirected marketing efforts towards sales to government customers not requiring a certificated aircraft.
Citing the effects of recent events on the capital markets, GBA says it is "making major modifications to its business plan". The Hawk 4 four-seat, turbine-powered gyroplane, a cross between a helicopter and a fixed wing aircraft, was under development for private and commercial use.
The company says the stock market fall has made it "extremely difficult" to secure the substantial outside investment required for certification, which was scheduled for late next year. GBA also believes the private aircraft market for the Hawk 4 has been constrained, at least temporarily, by post-attack limitations on US general aviation.
The company has laid off "80-85" of its 130-strong workforce and plans to consolidate operations at its flight test centre in Buckeye, Arizona, where it is flying the Hawk 4 prototype and the Revcon 6 (formerly Hawk 6), a larger single-turboprop gyroplane based on a modified Cessna 337.
The company is now pursuing the US Government market for both aircraft in their uncertificated form, particularly for "homeland defence" missions that have emerged in the wake of the terrorist attack.
Certification work will continue at a reduced pace until the capital markets turn around or revenues are generated by government sales, GBA says.
Source: Flight International