In addition to announcing its selection of the Avidyne FlightMax Entegra for its two-seat Javelin “executive jet," Aviation Technology Group of Englewood, Colo., reported receiving letters of intent from three possible distributors on its way to convert from direct factory sales to a national distributor network. The company intends to have six distributors in the U.S. and one each in Canada and Mexico.
Aviation Technology Group
Aviation Technology Group selected Avidyne to supply its FlightMax Entegra integrated avionics system for the company’s Javelin, a tandem two-place very light business jet under development. In the Javelin, the Avidyne system will include two 10.4-inch screens in each of the fore and aft cockpits to display primary navigation, moving maps and datalink information.
Englewood, Colo.-based Aviation Technology Group filed Chapter 7 bankruptcy in May to liquidate its assets. The company, which had been developing the two-seat Javelin and a military trainer version of the twinjet, suspended development of the VLJ program in late December since it wasn’t able to secure the needed additional funding. ATG laid off about 100 employees at that time.
In a unique approach to corporate transportation, Englewood, Colo.-based Aviation Technology Group (ATG) has introduced a two-place executive jet called the Javelin, a full-scale mockup of which can be seen at Booth No. 1421.
The company has already accepted more than a dozen $25,000 refundable deposits–at least two here at NBAA ’02–for the $2.2 million aircraft. First deliveries are scheduled for the last quarter of 2005.
Englewood, Colo.-based would-be very light jet manufacturer Aviation Technology Group recently filed Chapter 7 bankruptcy to liquidate its assets. The company, which had been developing the two-seat Javelin and a military trainer version of the twinjet, suspended development of the VLJ program in late December since it wasn’t able to secure the needed additional funding.
The twin-engine military-style ATG Javelin might yet survive. According to a statement from the ATG board of directors early last month, the company “has continued to engage in negotiations with its strategic partner and various financial institutions.
Since suspending the development of the Javelin very light jet program in late December, the board of directors at Aviation Technology Group has continued “to engage in negotiations with its strategic partner and various financial institutions,” the company said in a statement released late this afternoon.
Yesterday at Heli-Expo in Houston, MD Helicopters CEO Lynn Tilton told the aviation press that she is “probably going to buy a very light jet”–not just an airplane, but an entire company. Tilton added that she has been negotiating with a composites production firm in Italy.
Aviation Technology Group (ATG) of Englewood, Colo., laid off 40 of its 50 employees on December 17 and announced a day later that it has halted development of its two-seat Javelin very light twinjet, citing lack of funding.
Aviation Technology Group (ATG) of Englewood, Colo., laid off 40 of its 50 employees yesterday while it struggles to stay aloft to continue development of its two-seat Javelin very light twinjet. Last week, a company spokeswoman told AIN that the company was pursuing a bridge loan and long-term funding. She was optimistic that the bridge loan would close by last Friday, but apparently that deal fell through, forcing the layoffs.
- Page 1