Pilatus Might Go Public For Jet
Reuters is reporting that Pilatus is considering going public to finance production of its PC-24 business jet. The IPO would be worth almost $3 billion and give the company the capital it needs to launch the jet, which is a niche product in that it’s designed to use short unimproved runways. The company has undertaken a deliberate introduction and testing program that differs markedly from other aircraft debuts.
The program was well under development when it was announced in 2013 and first flight was in 2015. In May of 2014 the company took orders for the first 84 positions and sold them out in 36 hours. That covers the first three years of production, which is predicted for the coming year. New orders won’t be accepted until most of the first run is out the door. AVweb's Paul Bertorelli prepared a video update on the PC-24 when it crossed the Atlantic for the first time to go on static display at NBAA BACE 2016 in early November.