The new CEO of Stratos Aircraft (Booth No. 3905) on Monday made the case for his company’s proposed single-engine, carbon-composite very light jet and its supporting business model, even as he declined to provide details about the company’s current employment or release a timetable for the Stratos 714 project.
Aviation-industry veteran Alex Craig, who previously held engineering and executive positions at Boeing, Honeywell, Rockwell and Williams International, said he had received an informal commitment from a leading investment bank to provide what is expected to be more than $100 million for the 714’s development and certification, as long as Stratos can first raise an estimated $15 million required to build one or two prototype aircraft and successfully fly them. Craig said he is having discussions here at NBAA designed to secure that “first round” funding.
Much about the 714 project remains unknown. While the aircraft was designed to be powered by a single Williams FJ44-3AP turbofan engine, Craig said that Pratt & Whitney Canada also has an engine that would satisfy the aircraft’s technical requirements. He also said that an avionics manufacturer has not been selected, nor has a production site.
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