Raytheon Aircraft is planning to hand over the first Premier I entry level business jet this month, around four months after the aircraft was certificated.
The company has orders for over 300 aircraft including 71 for the company's fractional ownership subsidiary Raytheon Travel Air, which will receive its first aircraft in October next year.
Raytheon plans to deliver up to 36 this year, reaching full-rate production in the third quarter, and 60 aircraft annually from next year.
Development of the Premier I has cost over $300 million, between "40 and 45%" more than the anticipated budget, says a Raytheon source. Meanwhile, Raytheon's super mid-size Hawker Horizon, is set for certification in 2003 and its mid-size Hawker 450 three years later.
Source: Flight International