New CFO To Help Continued Search For OEM Partner

Aerion announced Sunday it has embarked on a "proof of concept" design phase, as it continues to shoot for a planned 2014 certification for its supersonic business jet design. The news comes as Aerion continues to search for an establish OEM to produce the aircraft... an endeavor the company has embarked on for over two years.

Aerion Vice-Chairman Brian Barents is optimistic. "We are very encouraged by the seriousness of these discussions and also by the results of recent tests that confirm high-speed performance predictions," he said. "All of this gives us confidence as we move ahead with the design effort."

During the proof-of-concept phase, Aerion will define systems, confirm weight build-up, and further validate performance. The design program will focus on all key certification criteria to ensure the ability to certify the aircraft in a timely fashion. Previously, the engineering effort was focused mainly on the validation of aerodynamics.

Aiding those efforts will be John Holding, who previously served as Bombardier Aerospace's Executive Vice President, Integrated Product Definition and Planning Engineering. Over a 16-year period, Holding led the introduction of new aircraft programs for Learjet, Challenger, Global Express and CRJ product lines. He was also involved in the preliminary engineering work for the recently launched CSeries airliner.

"There is simply no one with more experience and a greater track record of bringing new and innovative jets to market than John. We are thrilled to have his expertise," Barents said.

In his new role -- part of a overall effort by Aerion to increase staffing in various departments, especially engineering -- Holding will lead the development program as a Special Advisor.

Aerion also recently named another experienced industry insider. 28-year aerospace veteran Doug Nichols, who recently played a key consulting role on the Bombardier CSeries program, has been appointed Chief Financial Officer for Aerion. He will oversee the financial operations of the company and will play a key role in structuring partner and supplier relationships for the production of Aerion's supersonic business jet.

"Doug understands how major aerospace programs are put together and how to make them succeed," said Barents. "His knowledge, insight and leadership will be a major asset for us as we move forward, particularly at this time as we engage in important discussions with major industry players."

Over the last four years, Nichols worked as a senior advisor to Bombardier on its CSeries program, consulting on the financial aspects of structuring the program, including the structuring of partner and supplier relationships. That program was formally launched in July 2008.

Among his roles at Boeing, Nichols served as CFO at the company's Commercial Airplane Group 747/767 unit and also for Boeing Business Jets. Over the course of his Boeing career, he gained extensive experience in all aspects of the operational and financial management of airplane programs, as well as in new aircraft market evaluation, product development, aircraft preliminary and detailed design processes, advanced final assembly processes, supply base management, support logistics, and marketing and sales.

FMI: www.aerion.com