Israel Aircraft Industries (IAI) is expected to make a final decision on its participation in the Avocet very light jet programme within the next two months. In July last year IAI signed an agreement with Avocet to evaluate the best aircraft design. The evaluation continues and IAI recently formed a Red Team to make the final critical evaluation. Based on the team's findings, IAI will decide whether to seek board approval to invest in the project, say sources close to the programme.
There are two major requirements, they say - an Avocet commitment to invest $100 million in the programme and a "sufficient" backlog of firm orders. Avocet, which has said IAI involvement is tied to the programme, says it has secured more than 100 orders and that interest in the aircraft is strong from private owners and companies that plan to operate air taxi services.
Source: Flight International
