'Major Announcement' Planned on Project

 - October 12, 2006, 5:20 AM

Westport, Conn.-based Avocet Aircraft said it expects to make a “major announcement” at next month’s NBAA Convention on the progress of the ProJet very light jet contender. The company said it and partner Israel Aircraft Industries (IAI) are in advanced negotiations with a third partner, an “established business aviation OEM,” to provide “product support plus.” Avocet also said it has negotiated “definitive agreements” with IAI to design, build and certify the twinjet. Certification of the circa $2 million ProJet is now slated for mid-2007, a six-month slip from previously announced plans.