The latest entry in the personal jet marketplace–Stratos Aircraft of Bend, Ore.–made its first appearance at the NBAA Convention last month with a full-scale cabin mockup. Stratos announced just before the show that Verson Pandian, owner of Bend-based Cascade Air Charter, placed the first deposit for a Stratos 714 under the company’s new Assurance deposit program. This program allows for full refunding of deposits, which are held in escrow. Deposits earn interest and can be refunded at any time, until they are applied to a progress payment after buyers sign a formal purchase agreement. Pandian plans to add the 714 to Cascade’s charter fleet.
Performance targets for the 714 include 400-knot cruise carrying four people 1,500 nm (NBAA IFR reserves). The Williams International FJ44-3AP-powered 714 is expected to fly by the end of next year and enter service by the end of 2012.