Epic Aircraft

October 13, 2010 - 9:26am

Chinese Firm Acquires Epic’s Assets
Composite aircraft builder Epic’s plan for three new turboprop and two light jet models collapsed when the Bend, Ore.-based company filed for bankruptcy last year, stranding 12 of its builder-assisted, single-engine turboprop LT kitplanes on the assembly line.

September 30, 2010 - 6:24am

The Kestrel single-engine turboprop, whose developers had been seeking funding, has found new life under the leadership of Alan Klapmeier, cofounder and former chairman of Cirrus Design. Klapmeier’s new company, Kestrel Aircraft, is based in Brunswick, Maine, and plans call for an investment of more than $100 million in the program.

April 30, 2010 - 9:39am

A bankruptcy judge on April 12 approved an asset purchase agreement between China Aviation Industry General Aircraft (CAIGA, also known as AVIC General Aviation) and the bankruptcy trustee of Epic Air. CAIGA’s bid of $4.3 million

December 29, 2009 - 5:03am

As expected, the recession has taken a toll on aircraft manufacturers and would-be manufacturers. But while the list of canceled and delayed projects includes the inevitable marginal programs, the crop of active manufacturers is–with few exceptions–forging ahead with new aircraft.

October 1, 2009 - 11:58am

The recession has put the spike to some major new jet development programs, delayed others and shuttered some undercapitalized aircraft companies altogether.

September 30, 2009 - 12:20pm

In a hearing of the lawsuit filed by Blue Sky Avgroup against kit-airplane developer Epic Air, a federal judge in late August agreed with both the plaintiff’s and defendant’s request that a receiver be appointed. Early this month, the receiver is expected to provide a report and then Bend, Ore.-based Epic Air and sister companies Aircraft Completions Services and Aircraft Investor Resources will file for bankruptcy.

August 27, 2009 - 11:48am

Epic Aircraft’s plan to transition from the kit-built market to certified aircraft has suffered a setback. At the EAA AirVenture show in Oshkosh, Wis., at the end of July, only one Epic LT single-engine turboprop was on display, and company founder, chairman and CEO Rick Schrameck never showed up. In July, Epic’s facility in Bend, Ore., was locked shut and employees sent home.

August 27, 2009 - 11:31am

Comp Air is still planning to certify its single-engine turboprop CA-12, but has not yet formally applied to the FAA for a type certificate. “We’re waiting for everything to be in place before we apply,” said COO Bill Fedorko. The company is not yet taking deposits on the CA-12, he added.

August 27, 2009 - 11:02am

In a hearing of the lawsuit filed by Blue Sky Avgroup against kit-airplane developer Epic Air, a federal judge on Tuesday agreed with both the plaintiff’s and defendant’s request that a receiver be appointed. Within about 45 days, the receiver is expected to provide a report and then Epic Air and sister companies Aircraft Completions Services and Aircraft Investor Resources will file for bankruptcy.

August 25, 2009 - 11:35am

Blue Sky Avgroup has followed up its initial lawsuit against kit aircraft manufacturer Epic Air with an amended lawsuit.

 
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