Indian Businessman May Invest $200 Million In Epic

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The owner of Indiaís Kingfisher Airlines is reportedly planning to invest $200 million of his own money into Epic Aircraft. Vijay Mallya told the Indian newspaper the Mint that he was is in discussions with Epic but didnít elaborate. The Mint cited unnamed sources who said the $200 million infusion would give Mallya a controlling interest in the company, which has developed a turboprop and both a single and twin-engine jet in recent years, none of which is certified.

The Mint is speculating that Epic is planning to formally announce the deal at the National Business Aviation Association convention in Atlanta later this month. Mallya attended a news conference held by Epic at EAA AirVenture in July. The company plans to certify its aircraft through a new facility near Calgary, Alberta, Canada. It announced plans to build a facility at the Springbank Airport but so far it hasnít advanced beyond the ground preparation stage.