New investors, but still the same SJ30
The Sino Swearingen SJ30-2 light business jet is appearing in public for the first time since Dubai investors agreed to pump at least $150 million into the company.
Dubai-based Emirates Investment & Development (Emivest) early last month obtained U.S. approval to acquire an 80-percent stake from the Taiwanese government in San Antonio-based Sino Swearingen Aircraft. Taiwan will retain the other 20-percent stake, along with SJ30 designer Ed Swearingen and original investor Douglas Jaffe. Taiwan has reportedly injected nearly $700 million into Sino Swearingen in the last 13 years, but sharp internal criticism over this investment cut short the additional government funding needed for production.
Just two SJ30s have been delivered since the twinjet received its FAA certification in late 2006. Sino Swearingen claims orders for about 300 SJ30s, 159 of which were placed by UK distributor Action Aviation. The SJ30 on display here this week is Action Aviation’s sales demonstrator. The $7.5 million jet has a 2,500-nm range and is capable of a maximum speed of 486 knots.