Nextant Announces $150 Million Order
Nextant Aerospace announced that it has received a $150 million order from Flight Options for 40 of Nextant's 400XT remanufactured Beechjet 400A/Hawker 400XPs. Deliveries of the modified jet, which feature engines replaced with Williams International FJ44-3APs and Rockwell Collins Pro Line 21 avionics, will begin in 2011. Nextant (Booth No. 8245 and at the static display) expects to receive FAA supplemental type certification for the aircraft in the first quarter of next year. Six aircraft are already in production, according to James Miller, Nextant president.
Miller claimed the Nextant program has a two-year jump on Hawker Beechcraft's plans to offer a similar program and did not view the OEM as competition. "Hawker Beechcraft is taking a part of the market [individual aircraft owners] that would be very hard for us to serve," said Miller. The Nextant program, on the other hand, is based on serial production of aircraft in an orderly fashion, similar to new aircraft manufacturing.
Miller said that Nextant should deliver 11 aircraft next year and ramp up to an annual production rate of 38 by 2014. Current price of a 400XT is $3.9 million. Available options, including electronic flight bags, XM weather and Waas/LPV, would likely boost the price to the $4.2 million range, Miller said. Nextant will not be offering the 400XT upgrade for older aircraft models in the series, including Mitsubishi Diamonds, Miller said. "It's just too expensive to upgrade those aircraft."
Kenn Ricci is CEO of Nextant Aerospace, based in Richmond Heights, Ohio, and chairman of Flight Options, based in Cleveland. Michael Silvestro is CEO of Flight Options. The two companies also share some of the same owners.