Epic Aircraft continues development of its all-composite turboprop singles and very light jets, though without the $200 million in funding Indian billionaire Dr. Vijay Mallya pledged last September at the NBAA Convention.
Flush with a $200 million cash infusion from Indian billionaire Vijay Mallya and a $170 million order book, turboprop and VLJ maker Epic Aircraft announced that it is in initial talks with Airbus on a technology- and knowledge-sharing agreement. However, Epic CEO Rick Schrameck backed away from a statement he made on Tuesday that the value of the Airbus alliance would equal or exceed Mallya’s investment in the company.
Flush with a $200 million cash infusion from Indian billionaire Vijay Mallya and a $170 million order book, turboprop and very light jet maker Epic Aircraft announced today at the NBAA Convention that it is in initial talks with EADS unit Airbus Industries on a technology- and knowledge-sharing agreement.
“Stay tuned–it’s going to be an interesting company,” Epic Aircraft CEO Rick Schrameck told AIN today, confirming speculation that he has been in talks with Vijay Mallya, chairman of Kingfisher Airlines parent company UB Group, about Mallya acquiring a controlling stake in the start-up aircraft manufacturer.
Airbus’ solid sales showing at this year’s show continued yesterday with Kingfisher Airlines’ announcement that it would take another 30 Airbus A320-family jets starting in 2008. Meanwhile, almost simultaneously back in Toulouse, the company announced a deal with TAP Portugal for 10 A350s and seven A330-200s, scheduled for first deliveries in 2013 and 2007, respectively.
India’s Kingfisher Airlines exercised options on another 15 ATR 72-500s yesterday during French President Jacques Chirac’s official visit to the subcontinent. The estimated $270 million deal included options on another 20 airplanes and increased to 35 the number of ATR 72s on which Kingfisher has placed firm orders.
Aviation International News traveled from Delhi to Mumbai for the Centre for Asia Pacific Aviation (CAPA) conference on Kingfisher Airlines, because at the time it offered the best schedule and most user-friendly Web site for buying tickets in U.S. dollars using a credit card. We paid $310 (or about INR 12,500) for the round-trip ticket.
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