Farnborough Aircraft Reports Building F1 Prototype

 - October 12, 2006, 6:02 AM

In a change of direction, Farnborough Aircraft lead investor Geoffrey Galley has agreed to continue financing the six-seat F1 turboprop single through first flight and put the search for about $125 million in major financing on hold, according to Richard Blair, Farnborough commercial director. The developers plan to fly the proof-of-concept, non-conforming prototype during the first half of next year. Company founder Richard Noble introduced the F1 in 1999. Noble was forced to relinquish the company in July 2002 after stockholders backed Galley at an extraordinary general meeting.