Singapore venture needs new investor to take IAe-designed nine-seater to phase two
Aero Nimbus is looking for new investors to support a proposed six- to nine-seat light business jet, the NMX, designed by Indonesian Aerospace (IAe).
IAe says it completed a preliminary design of the NMX at the end of last year and tested a model of the aircraft in its windtunnel. Industry sources, however, say IAe has not yet been fully paid for its services and as a result has halted work on a detailed design.
Sources say Aero Nimbus is now looking to secure new capital for the programme because one of its partners has backed out. They say funds are needed to launch the second phase of development, which will culminate with the first flight in 2008.
The aircraft is designed to cruise at Mach 0.8 and take off with a weight of up to 2t. Aero Nimbus was established in 2003 and was initially backed by investors in several Southeast Asian countries including Malaysia, Singapore, Thailand and the Philippines. While the company aims to develop and produce the NMX in Asia, it needs to sell the aircraft in North America to be successful.
BRENDAN SOBIE / SINGAPORE