Epic Aircraft plans to certify the Victory and Escape prototypes in the U.S., according to chairman and CEO Rick Schrameck. “We love Canada, but we’re Americans,” Schrameck said in regard to the certification.
Nothing re-ignites interest in new turboprops faster than a good old-fashioned “fuel crisis.”
The UK’s Farnborough Aircraft filed for bankruptcy protection on September 12, and its administrator is now seeking fresh investors in the company or someone willing to buy the intellectual property rights for its F1 Kestrel single-turboprop aircraft program. Proposals for the company’s future can be made to creditors by the first week of November, and it can remain in administration for at least a year.
Bend, Ore.-based Epic Aircraft continues to pursue certification of its $1.2 million single-engine, owner-built kitplane, the Epic LT, re-badged in certified form as the $1.95 million Dynasty.
The conflict between Russia and Georgia is reverberating at Bend, Ore.-based Epic Aircraft, which in late June temporarily moved its sole Epic Elite Jet prototype to partner Tbilisi Aircraft Manufacturing’s (TAM) facility in Georgia for demonstration and marketing purposes. The two companies formed a joint venture several years ago to develop the eight-seat Tam-Air Elite Jet for the Russian and CIS markets.
Epic Aircraft parent company Aircraft Investor Resources (AIR) and Tbilisi Aircraft Manufacturing (TAM) in June further cemented their joint venture to develop the eight-seat TAM-AIR Elite Jet for the CIS market. The sole Elite Jet prototype will be based temporarily at TAM’s facility at Tbilisi International Airport in the republic of Georgia for demonstration and marketing purposes.
EADS Socata, the France-based manufacturer of the TBM 850 turboprop, last month denied the content of a June 1 story in the India Times, which reported that UB Group’s Vijay Mallya was ready to invest $200 million in the development of a jet. “We did talk to Mallya, but it was about relaunching our line of piston singles,” a spokesman said, adding that the company has made no progress recently in the search for partners in business aircraft.
Epic Aircraft parent company Aircraft Investor Resources (AIR) and Tbilisi Aircraft Manufacturing (TAM) last week further cemented their joint venture to develop the eight-seat TAM-AIR Elite Jet for the CIS market. The sole Elite Jet prototype arrived early last week at TAM’s facility at Tbilisi International Airport in the republic of Georgia, where it will be temporarily based for demonstration and marketing purposes.
EADS Socata, the France-based manufacturer of the TBM 850 turboprop single, today tried to clarify the status of its negotiations with a number of potential partners for the development of another business aircraft. Speaking to AIN, a spokesman essentially denied the content of a story published Sunday in the India Times, which reported that UB Group’s Vijay Mallya was ready to invest $200 million in the development of a Socata jet.
Epic Aircraft continues development of its all-composite turboprop singles and very light jets, though without the $200 million in funding pledged by Indian billionaire Dr. Vijay Mallya last September at the NBAA Con- vention. The deal with Mallya isn’t dead, Epic CEO Rick Schra-meck told AIN, but has become “more complicated due to other outside partners.”