Struggling start-up company Safire Aircraft has cleared the final hurdle to resuming development of its very light jet following the decision by the US Department of Homeland Security to authenticate the company's new investor. Safire president and chief executive Camillo Salomon says he hopes to receive the first tranche of funding in the next three weeks, and begin the process of rebuilding the company. "I have been here before," Salomon cautions, "so I am reluctant to be too optimistic and will not issue a development timescale until the money is available." An Italian investment group has committed to fund the programme into the manufacturing phase on condition that development milestones are met on time.
KATE SARSFIELD / LONDON
Source: Flight International