Wed, Aug 06, 2003
Does Anyone Still Doubt There's a
Market?
Avocet Aircraft LLC and Israel Aircraft Industries LTD (IAI)
have signed an agreement to jointly investigate the development and
marketing of the Avocet Professional Jet, a next-generation jet
designed specifically for the requirements of the air-taxi and
fractional operator markets. The Avocet ProJet will feature the
latest developments in jet engine, avionics and manufacturing
technologies. It will have an acquisition price and operating costs
substantially lower than today's private aircraft.
"We have been collaborating
with IAI on this new vision for over a year now and are pleased to
formally announce that we have commenced the final definition phase
of the Avocet ProJet with one of the most experienced aircraft
design teams in the industry," stated former investment banker and
Avocet Founder and Chairman Carey Robinson Wolchok. Avocet Chief
Executive Officer David Tait OBE, who is credited with having built
Virgin Atlantic Airways into one of the world's preeminent
airlines, added: "The Avocet ProJet is a six-seat, twin-engine jet
that will sell for approximately two million dollars and will be
the first jet to be purpose-built for the high-utilization needs of
the emerging Air-Taxi and Fractional Ownership markets."
Bob Crandall, the former Chairman and CEO of American Airlines,
added: "The Avocet ProJet program, like other efforts to build an
affordable small jet, will be a substantial challenge. If IAI and
Avocet accomplish their goals, I think this new airplane will have
a profound impact on US aviation and will dramatically alter the
way Americans travel."
NASA, which is
supporting many of the technologies behind this new category of
aircraft, believes the next-generation jets will serve as the
foundation for an enormous national small aircraft transportation
system which will utilize the thousands of small airports
throughout the US. During last year's National Business Aviation
Association annual conference, aerospace manufacturer Honeywell
noted that its surveys had indicated this category of aircraft
could outpace all new business jet deliveries combined.
Ofer Shifris, General Manager of New Aircraft Programs at IAI,
said: "Based on our experience and expertise in aircraft design,
production and certification, we believe that we can meet Avocet's
goals and deliver this new aircraft with competitive acquisition
and operating costs."
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