AAI Acquisitions Inc., the Russian-backed company that bought the rights to defunct Adam Aircraft this year, said it’s on track with A700 flight testing and expects FAA certification of the twin-engine very light jet in the first half of 2010.
“We’ll be priced right with the Cessna Mustang and (Embraer) Phenom 100,” said Jack Braly, chief executive at AAI. “Our performance will be very competitive, too. From the numbers we’re seeing (in flight testing), we’ll be very competitive.”
The six-seat, twin-boom A700 is projected to have a top speed slightly above 340 KTAS at 41,000 feet, but Braly declined to give specific performance numbers or set a firm retail price.
AAI has about 200 employees and plans to expand to 300 next year.
The company hopes to ramp up production and deliveries to a peak of 100 airplanes a year in 2014.
Braly said he expects FAA type and production certification to cost about $200 million.
AAI’s backers are “very committed” to the project, he said, and will provide additional funds as necessary.
The A700 will use Williams turbofan engines, Braly said, and be sold through a network of as-yet-unnamed dealers.
Braly said he expects to announce an avionics supplier “very soon.”
Dave Hirschman
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