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Mon, Mar 27, 2006

Quartz Mountain Aerospace Shows Off Its FAA-Certified Model 11E

Company Plans To Manufacture 68 Aircraft In First Year

Quartz Mountain Aerospace, Inc., based in Altus, OK showcased the FAA Type-Certified model of a $200,000, four-seat, high-winged Model 11E single-engine airplane Monday at the Wiley Post Airport in Oklahoma City.

Formerly known as Luscombe Aircraft Corp., the company says the Model 11E -- which will be used primarily as a trainer -- is an adaptation of the Luscombe Model 11A Sedan, introduced in 1946. The new model is distinguished by superior in-flight and landing stability over the tailwheel-equipped Sedan.

Quartz Mountain Aerospace says it already has commitments for its first few years of planned production of the Model 11E.

It is planning to produce about 68 aircraft during the 12 months beginning in September, ramping up to 250 aircraft, or about $50 million in sales for the 12 months starting in September 2007, and 300 aircraft and sales of $60 million during the following 12 months... but the company will need money to do it.

"Our ability to start manufacturing and to amass the financial resources we need to ramp up production over the next few years has and will continue to require substantial financial resources," said John S. Daniel, Quartz Mountain's president and chief operating officer.

The company has received help from the the Oklahoma Department of Career and Technology Education, or "Career Tech." It is a state-funded agency that provides employment training, among other objectives. Through its Southwest Technology Center (SWTC) in Altus, they are providing specialized and customized training for those in the Southwest Oklahoma.

SWTC is collaborating with Quartz Mountain Aerospace (QMA) to customize curricula for the various trades associated with the Model 11E. SWTC's first class of trained students are now employed at QMA. They have a second class scheduled for graduation in May of 2006. For convenience and hands-on instruction, the SWTC school is conducted in a facility adjacent to the QMA manufacturing facility.

"As those in the aircraft industry know," Daniel added, "getting a new plane certified is a major feat. The confidence and support of Oklahoma has gotten us this far, and we expect to repay this support with a boost to the rural areas of the state by adding jobs and stimulating their economy."

"Based on present sales commitments," said Daniel, "we are anticipating a 20% annual sales growth after our second year of production, so that by year four of production, beginning September 2009, we would be manufacturing up 360 aircraft in a 12-month period, which translates into approximately $72 million in sales."

Daniel said that Quartz Mountain Aerospace has purchase commitments from Global Aviation Partners, which represents more than 100 flight schools throughout the country.

FMI: www.qmaero.com (Site Under Construction)

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