Business & GA
Israel Aircraft Industries (IAI) has declined to give its full backing to Avocet Aircraft for its ProJet very light jet programme as, it says, its demands have not been met by the US aircraft developer.
Sources close to the project say the decision, which follows a 12-month evaluation by the Israeli company, was also prompted by fresh demands made on IAI by Avocet. Both parties last year agreed to evaluate the best design for the Projet. Sources say that while technical evaluation is now complete, IAI's key conditions that Avocet invest $100 million in the programme and have a substantial backlog of firm orders, have not been met.
IAI has also sought a second manufacturer to join the programme. Avocet is unavailable for comment.
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