Millennium Aero Scores Fleet Order for 250 Foxjets

 - July 31, 2008, 11:45 AM
Eckhaus Leasing Group, a sister company of vehicle fleet company Eckhaus Fleet, yesterday placed an order for 250 Millennium Aerospace Foxjet II very light jets. The company expects to take delivery of 50 aircraft per year for five years, beginning in 2010 after planned FAA certification late next year. Millennium says the contract is worth $437.5 million, which would put the price of each Foxjet II at $1.75 million. “We have watched with interest how airlines are cutting back routes and offering fewer flights…We see [this] as an opportunity, and decided to expand into aircraft leasing to meet the future needs of our customers,” said Eckhaus president Mark Eckhaus. The Foxjet II, to be manufactured by Los Angeles-based Millennium, is an upgraded version of the original Foxjet, which was unveiled in the 1970s by Tony Fox but never produced. Millennium bought the Foxjet assets two years ago and claims its airplane will be the first “second generation” VLJ, carrying six people at 348 knots, with a range of more than 1,200 nm. In addition to the Foxjet II, Millennium Aerospace has several other aviation products in development, including a seaplane and another VLJ project called “Super Fox.”