Aviation Technology Group (ATG) of Englewood, Colo., laid off 40 of its 50 employees yesterday while it struggles to stay aloft to continue development of its two-seat Javelin very light twinjet. Last week, a company spokeswoman told AIN that the company was pursuing a bridge loan and long-term funding. She was optimistic that the bridge loan would close by last Friday, but apparently that deal fell through, forcing the layoffs.
Israel Aerospace Industries
After a short but intensive development phase, the IAI-Elta Conformal Airborne Early Warning (CAEW) system will go operational with the Israeli Air Force early next year. A program manager told attendees at the recent AEW Conference in London, organized by Defence-IQ, that the dual-band system was meeting all of its performance goals.
UltraJet, a membership-based charter company, has ordered 105 ProJets, the proposed very light twinjet from Westport, Conn.-based startup Avocet Aircraft, a U.S./Israeli joint venture. Announced at last month’s NBAA gathering in Orlando, the order is secured by a refundable deposit.
On August 31 Gulfstream and Israel Aircraft Industries, manufacturer of the G100 and G200, celebrated the rollout of the 100th G200 at a ceremony in Tel Aviv. Since 2001, when Gulfstream purchased the G200 product line and type certificate from the now defunct Galaxy Aerospace, the company has delivered 67 outfitted aircraft.
Israel Aircraft Industries has contracted Forecast International of Newtown, Conn., to help define the future market for its proposed six- to eight-place, twin-turbine Avocet/IAI ProJet. The 20-question survey asked NBAA members to comment on the viability of the very light jet market and to rate the performance and price goals of the ProJet.
Israel launched another reconnaissance satellite last week as military tensions increase in the Middle East. After lifting off from the Palmachim range at 2:40 local time on June 11, the Shavit three-stage launcher successfully delivered the 300-kilogram Ofeq-7 into a low-Earth, elliptical orbit. Once in orbit, Ofeq-7 unfurled its solar array that should give it a minimum life of four years.
Since the appointment at the beginning of 2006 of Itzhak Nissan as president and CEO of Israel Aerospace Industries (IAI), the company’s finances have undergone a radical improvement–a fact underlined by a massively oversubscribed public bond issue concluded earlier this month.
For the past six years at EBACE, Gulfstream has given groups of aviation journalists the opportunity to experience the cabin amenities of one of its business jets during a morning flight over the Alps. The initial flight in 2002 was in a G200, the model chosen because Gulfstream had purchased the type certificates for it and the smaller G100 from Israel Aircraft Industries the year before.
Israel Aircraft Industries of Tel Aviv and Avocet Aircraft of Westport, Conn., are within weeks of finalizing their definitive partnership agreement on the development, certification and production of the proposed very light ProJet, according to Avocet CEO David Tait. Since announcing the $2 million business jet last August, the companies have said little about the project.
Israel Aircraft Industries of Tel Aviv and Avocet Aircraft of Westport, Conn., have been in discussions with engine manufacturers, including the Honda/ General Electric joint venture company, for the proposed ProJet, an eight-seat very light twinjet. According to Avocet CEO David Tait, IAI and Avocet are within weeks of finalizing their definitive partnership agreement on the development, production and marketing of the $2 million ProJet.