Aerion Hires James Stewart as CFO

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Aerion, the startup airframer working on the Aerion Supersonic Business Jet, said Monday it hired James Stewart, former chief financial officer (CFO) at Bombardier Aerospace, as its new CFO. In his new position, Stewart will lead the company's effort to lure potential OEM partners and refine its business case. Stewart has served in a number of senior financial positions at Bombardier units or divisions. He has been CFO of Learjet and Short Brothers, vice president of specialized finance for Bombardier’s commercial aircraft programs and CFO of Bombardier Aerospace.

“Our initial discussions with OEMs have elicited strong interest,” commented Aerion Vice Chairman Brian Barents. “During this phase we will examine the aircraft’s bill of material and every facet of its development cost; explore various partnership structures; and develop a financial plan to assure an attractive return on investment to the partnership.” Aerion said its efforts to develop the world's first supersonic business jet continue on track. High-speed testing of the supersonic laminar flow wing is set for next month, and the company said it expects to announce one or more partners in 2007.