Evektor has slowed development of its EV-55 Outback utility twin turboprop and VUT-100 Cobra four-seat piston single due to funding constraints and is seeking to attract investors to help fund the programmes through certification and first delivery.
The privately owned Czech Republic company says it is now holding talks with potential investors and is optimistic that the discussions will prove fruitful. "We are making progress, albeit it slow, with both aircraft. We have received funding from the Czech government and we are also investing our own money to finance the programmes, but it is not enough," says Evektor.
Evektor is injecting much of the profit from its successful ultralight aircraft venture, which includes the SportStar and Harmony piston singles. "Demand for the ultralights is very strong. We are building 150 aircraft a year and are taking steps to increase production," it says.
Evektor says tooling for the first Pratt & Whitney Canada PT6A21-powered Outback is complete and assembly has begun on the first aircraft, which is earmarked for first flight next year.
Two VUT Cobra prototypes are in flight testing and the company says it has secured enough orders to begin production of the 200hp (150kW) Textron LycomingIO-360-A1B6 and 315hp Lycoming IO-580-B1A-powered aircraft, which are scheduled to receive certification next year.
Meanwhile, US kitplane specialist Comp Air Aviation is working with consultants Downing Aviation Associates to secure investors and resources to develop its eight-seat, single-turboprop CA-12, first flown in March.
Art Manni, a founder of the Phoenix, Arizona-based consulting firm, says Comp Air is looking for bridge financing to continue flight testing while it raises the $100-150 million needed to certificate the 310kt (575km/h) aircraft, which is expected to take three years.
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Source: Flight International