VisionAire is reviewing the cost and schedule for development of its Vantage single-engined business jet, and expects to announce a "more definitive" date for certification.
The company has been aiming for certification in the fourth quarter of 1999, "-but we know that's a stretch", says chairman Jim Rice, who adds: "We have a much better idea of the cost and timing now." Certification is now expected to be "no later than" 2000, he says.
Rice expects the programme to cost "$120-150 million" to certification, compared with the original estimate of $100 million. The St Louis, Missouri-based company has so far raised $60 million, Rice says. He anticipates that 40-50% of the additional funding will come from existing investors.
One reason for the increased cost is the decision to add aircraft to the certification flight test programme, which will now involve the first two production Vantages as well as the two test aircraft originally planned.
Meanwhile, VisionAire has named additional suppliers, selecting Cox to develop an electro-mechanical de-icing system for the Vantage, and Enviro Systems to provide the air-conditioning system for the aircraft. Rice says 70% of suppliers are covering their own development costs as risk-sharing partners on the Vantage programme.
Source: Flight International