Farnborough Aircraft reckons it can secure a 5% share of the worldwide airline business passenger market with its F1 six-seat single engine turboprop. The sector could account for a total market of over 24,000 units after the aircraft enters service in 2005.
Farnborough Aircraft chief executive Richard Noble says: "As airports and airspace become increasingly congested [most notably in North America and Europe], the need for point-to-point on-demand travel from small airfields will be phenomenal and the F1 will be there to meet the demand."
With an estimated price of $2 million, the aircraft will be aimed at companies interested in creating networks of air taxis, which can be booked through a global internet site, currently under development. Noble says: "Designed to take off from most types of runways and airstrips of more than 1,400ft [430m], the F1 will operate like a taxi transporting passengers within a range of 1,850km [1,000nm]."
Noble admits that the bulk ofthe market will be in North America, although the company does expect to sell F1 franchises around the world.
The UK company is seeking around £15 million ($22 million) investment to fund the aircraft through certification. Uniquely, the F1 is being marketed and developed "publicly" over the internet.
The website, www.farnborough-aircraft.com, is updated several times a day."Our website has enabled us to secure 46% of the total £1.524 million ($2.18 million) investment so far received - an average of £4,000 per investor," says Noble. To date the company has 370 shareholders.
The carbon-fibre composite, Pratt & Whitney Canada PT6A-60A-powered F1 will offer a 325kt (600km/h) cruise speed and 30,000ft cruise altitude. Noble hopes to receive 500 orders by 2003, to coincide with the F1's first flight. Certification is set for late 2004. Farnborough Aircraft recently completed wind tunnel testing of the F1's laminar flow wing section.
Source: Flight International
