On Monday, Avocet Aircraft, headquartered in Westport, Conn., announced that it will work with Israel Aircraft Industries (IAI), manufacturer of Gulfstream bizjets, to develop and market the Avocet Professional Jet, a six-seat, twin-turbofan, all-metal-fuselage jet designed for the air-taxi and fractional markets. Projected sales price is about $2 million, with deliveries projected to start in late 2006. The ProJet enters a crowded field, already occupied by Adam, soon to be contested by Diamond, Eclipse, Cessna, etc., all with jets at various stages of design/completion coming to market, and projected prices varying from "well under a million" to about $3 million. IAI designed, certified and manufactures business jets for Gulfstream Aerospace, including the G100 and G200, and is currently developing the G150 with Gulfstream. Avocet expects to begin accepting firm orders later this year but interested customers can submit pre-orders at the company's Web site. The company also said it will present a "comprehensive overview" of the program at the 2003 NBAA conference this October in Orlando, Fla. Avocet Aircraft was founded by a group of aerospace industry investment bankers and a team of aviation industry executives.