Canada Lends $20M to Diamond for D-Jet Program

AINalerts » February 19, 2008
February 19, 2008, 9:58 AM

Diamond Aircraft on Saturday received a $19.6 million “repayable investment” from the Canadian government for research and development of its $1.4 million single-engine D-Jet. The government’s investment coincides with Diamond’s decision to manufacture the five-seat, all-composite jet single at its facility in London, Ontario, where the D-Jet R&D program is based. “This investment will play a vital role in enabling our company to complete the final development, flight testing and certification of the D-Jet, and to complete our transition to production,” said Diamond Aircraft Industries president Peter Maurer. The $95.2 million (total) D-Jet R&D program began in 2003, and the company has already received $11 million from the Ontario government to develop technology and train workers for the jet project. Two D-Jet prototypes are currently engaged in flight testing, with S/N 003 expected to join the test fleet by month’s end. S/N 004 will come on line in the middle of this year. Diamond said it has orders for more than 300 copies of its Williams FJ33-powered “personal jet” and plans to deliver 50 by year-end after obtaining Canadian type certification in August.

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