July 27, 2000 The Sun Shines, But Not on Eclipse Alone: Other Small Jet Companies Show Their Wares at AirVenture |
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While the recently-announced Eclipse is the newest small jet to be announced in a fancy fashion, it is by no means alone: Others are way ahead of it in the certification process. While the economy remains stable and bizjet manufacturers are selling new airplanes to fractional ownership companies as fast as they can make them, several new small jets are being developed are in various stages of development, including one that you can buy today, but only as a kit. Among them are the VisionAire Vantage, the Century Jet 100 and the Maverick Twinjet. All are competing for the light-light bizjet market, which their makers hope will still exist by the time their dreams emerge from the FAA's labyrinthine certification process. AVweb's Liz Swaine raises the question of whether any of them will be able to attract enough investment to see them through that process.
July 27, 2000
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| About the Author ... |

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Liz Swaine is
a member of the AVweb news writing team. A private instrument-rated
pilot, she owns and flies a 1966 Mooney M-20E affectionately known as "Mike" and
a Russian Yak-52 affectionately known as "Yak-52." Liz's love for aviation began
some years ago when, as a reporter at a TV station in Pensacola, Fla., she was
assigned the Blue Angels beat. From there, she moved to Shreveport, La. and, as
news anchor at the ABC affiliate, traveled the world covering the happenings at
Barksdale Air Force Base. She has traveled to Russia to cover the fall of
communism, to Saudi Arabia to report on the build up to Desert Storm, and to
Israel to look at the Arab-Israeli peace process up close. Her latest position
as executive assistant to the dynamic mayor of Shreveport is showing her
what the political world looks like from the inside, and she reports the sausage
analogy is right on ... you may enjoy what it tastes like, but you probably
don't want to see it being made. The fast pace of her life extends to her play
... she is a former triathlete and currently into high intensity weight
training. Liz recently married airshow pilot and airplane builder Steve Culp,
who likes airplanes as much as she does and can fix 'em, too. Their dark, hairy
daughter named "Mollie" looks suspiciously like a dog.
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The
to-be-developed Eclipse jet is
definitely center stage at EAA AirVenture. Though the Eclipse is high profile,
it is by no means alone. Thursday, AVweb went in search of a few of the other
jet makers to get updates on where they are, where they're going, and when you
will be able to fly their birds high and fast.
VisionAire Corporation Chairman and CEO Jim Rice has been working to bring his
dream of a six-person VisionAire Vantage jet to fruition for going on 12 years
now. All was going relatively well until last year, when the company went
through a gut-wrenching period during which the project was frozen, nearly 100
employees were laid off, and the new production facility built in Ames, Iowa,
was closed and rented out for storage. The near-meltdown was caused when the
jet was found to be carrying 790 extra pounds ... weight that threatened to
nullify the company's performance guarantees, FAA certification, and the jet's
marketability. Rather than just trying to make the airplane fly at the higher
weight, which some advised, company officials made the difficult decision to
freeze the program, and went to work shaving pounds from the VisionAireVantage
airframe. Rice was determined not to wave the white flag.
Vantage Searches For Pounds, Dollars
Vantage engineers set to work, trimming ounces here and ounces there, and
managed to cut 390 pounds. The other 400 pounds was weight the program was
forced to live with. To deal with the increase, engineers redesigned the jet's
wing to increase the plane's gross weight. The tail was also extended 20
inches to help overcome a problem with ice collecting in the inlet. The design
is now set and all systems are 'go.' "It was painful what happened last
year. But it turns out it was all for the best," Rice told AVweb. The
redesign has been taken care of... now the challenge is finding the money to
continue the program.
"Money's a big part of it. If you think it's lift and thrust and drag
that makes an airplane fly, you're wrong. It's money," said Rice. So far
$100 million has been invested in the Vantage jet and another $100 million
will be needed to bring it to production. "Can you believe I thought $50
million would have this plane flying?" asked Rice. The company currently
has 150 individual investors who have ponied up from $500 to $4 million.
"While the company was going through its problems," says Vantage
Program Manager Del Potts, "Jim (Rice) stopped going out after investment
dollars. I think that's admirable and says a lot for his character."
"Yeah, I don't want to lose my reputation," jokes Rice, "but I
don't want to spend the rest of my life in jail either."
If Money Comes, So Will Certification
If Rice can find more investors willing to take a chance on VisionAire, he
will have his $2.1 million Vantage jet ready for certification in 30 months.
"I feel great technically," says Rice. "I don't know anything
we're doing that will keep us from being certified." Except money.
"Like kids say to their parents," Rice smiles, "'Send money.' I
need investors to send money."
VisionAire has big plans that include more than just the Vantage jet. A
smaller six-place called the VA-14 Spirit has taken shape on paper and will be
"priced comparably to the Eclipse... under $1 million," says
VisionAire's Future Works Vice President Tom Stark. A mock-up of that bird
could be ready by Oshkosh 2001. A two-place $600,000 VA-12C Spirit is also
being considered for development as a personal jet aircraft. Preliminary
cruise numbers on the single-engine Spirit are projected at 400 knots. All
those planes will come... if investors can be convinced that the market is
there.
A Look Ahead To A New Century... Jet, That Is
Did someone say money? Oh, yes. Century
Aerospace's Jay Morris is talking
about cash, capital, investment dollars, moolah as are the other officials
at Century. They believe another $10 million will get their six-person Century
Jet 100 to FAA certification. The company's plans are to take the composite
twin-engine turbine up for its first flight sometime over the next 24 months,
with FAA certification predicted 12 months later. Fifty refundable
$10,000-deposits have been taken so far and Morris is hoping for many more,
not only from companies eager to have a fast plane, but from pilots looking to
step up from turbos and piston twins. "We'd like to have 100-plus
deposits by our first flight," he told AVweb.
One of those first 50 customers showed up while AVweb was in the Century
booth. Pilot and corporate VP Mike Berglund put his deposit down about a year
and a half ago. "I'll sell my Baron when my Century Jet is ready,"
Berglund said. He flies about 150 hours a year, about 50/50 personal and
business. "I think this will be easier than my Baron to fly,"
Berglund says. "There's less instrumentation."
Century's price for its jet is $2.7 million. As for the $836,500 being asked
by Eclipse ... "I just don't understand how they can do it," says
Morris. "I know what it's costing us to build ours, and they need all the
same pieces and parts. However, if there's a way they can make the pie (the
number of pilots wanting turbines) significantly larger, then they can achieve
economy of scale." Though raising money has been difficult, Morris says,
"I feel very good about this aircraft. We're taking already-certified
technology. This is nothing new to the FAA, so that's given us a good level of
confidence in getting certified. There are no planned miracles in this
airplane. We're going to be an assembler. We'll bring other parts and put it
together. That's a key part of our company."
The True Maverick In The Bunch
If $2.7 million isn't to your liking, or if you don't feel like waiting a
couple of years to go fast, there is another option. The Maverick TwinJet 1500
can be yours for $300,000, with a slight catch. You'll have to build part of
it. The TwinJet 1500, you see, is a kitplane. Maverick President/CEO Robert
Bornhofen says kits have been available for about 12 months now, and the
fast-build kit will take upwards of 2,500 hours to complete. "We can
deliver an airframe as long as the builder does 51 percent of the systems.
We're requiring people to use factory-authorized jigs and assembly
fixtures." Bornhofen wants his planes to be well-built. "The last
thing I want is an incident in one of my planes."
"This is a trainer. This was designed to be a Duchess with two jet
engines. I wish Eclipse all the best in creating a whole new market for jets,
because then there will be a need for a dependable, forgiving training
airplane so people can build turbine time. We'll train 'em. The training area
will be the Maverick niche," Bornhofen said. "For about as long as
it will take someone to solo in a Cessna 172, we can solo them here. This is
for non-professional pilots."
Bornhofen was retired when he got into the aviation business, and had no
aviation background. "I wondered why I couldn't buy a personal jet, and
when I couldn't buy one, I decided to create one." Bornhofen has been
funding much of the project out of his own pocket. "I find I pay a lot of
attention to detail that way," he told AVweb. The biggest selling point
of his TwinJet 1500? "It's real. I flew it in." The TwinJet is not
certified and likely won't be. The jet uses two converted surplus GE-T58
military helicopter engines, overhauled and zero-timed.
Bornhofen's biggest hurdle has been not cash, but insurance companies.
"There's no database on small, personal jets," he says. "The
insurance companies don't know what to do." He has been working with
insurance companies for the past 12 months to prove how crashworthy his plane
is to get the rates down.
The amazing thing is that in spite of the hardships, Maverick, Century
Aerospace and VisionAire aren't the only companies willing to pound the
pavement and work the phones to raise the money to get into the small jet
business. According to VisionAire's Tom Stark, "this is the beginning of
the revolution. In five or ten years, the whole industry will have
changed." In the meantime, send money.
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