Mini-Jet Maker Up For Grabs

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For those interested in a turnkey opportunity to join the mini-jet market, a Canadian company may have what you're looking for. Noravcan Corp., of Calgary, Alberta, is selling its Phoenix Fanjet aircraft program. The company has developed a four-place, single-engine luxury tourer called the Magna and a two-place aerobatic model called the Sigma. The all-metal jets are powered by a Williams FJ44 engine. Noravcan doesn't give a reason for selling the program, which would seem poised to exploit the burgeoning interest in personal jets. The company claims its planes are easy to fly -- even for low-time pilots -- and relatively inexpensive to operate. The company says the four-place model has a maximum cruise speed of 345 KTAS at 25,000 feet and an all-up, full-flaps stall speed of 61 knots. The estimated operating cost is 72 cents a mile. The two-seater comes in an aerobatic model (+6G, -3G) and a training model, which the company says is ideal for primary jet training and upset recovery. We couldn't find a projected purchase price, but chances are if you have to ask ...