ATG’s Javelin program has entered a challenging period, a time when the company is ready to move forward with the program but does not have the resources to do so. “ATG has been diligently working behind the scenes to secure funding to sustain the Javelin development program through FAA certification,” the company said, and it has hired Citigroup to help secure private-equity funding. ATG estimates that certification of the Javelin should take place within 36 months of an infusion of long-term financing. Meanwhile, ATG president Charlie Johnson has retired, according to ATG, “as planned and agreed to during his hiring process.” Johnson, formerly president of Cessna Aircraft, will continue to advise ATG. The executive committee of ATG’s board of directors has taken on the role of president and CEO.
During a recent visit to ATG’s Englewood, Colo. headquarters, AIN saw that ATG employees are still busy working on the program. But until the financing comes through, the company doesn’t expect to have much to report, according to a spokeswoman. ATG engineers are nearly finished with issue papers that will define the small two-seat jet’s certification basis as well as material and process specifications for the carbon-composite structure and the 3-D digital mockup. Five test airplanes are planned when the needed money becomes available.