Epic Aircraft plans to certify the Victory and Escape prototypes in the U.S., according to chairman and CEO Rick Schrameck. âWe love Canada, but weâre Americans,â Schrameck said in regard to the certification.
The company is currently working to certify the six-passenger Dynasty in Canada but has not announced a certification date. Schrameck did say Epic has completed 300 hours of flight testing on the aircraft. âWeâre going at it at our own pace,â he said, adding that the company âunderstands all the dynamics of the airplaneâ but needs to conduct stall testing.
The Victory and Escape certification will âprobably jump aheadâ of plans for the twin-engine Elite prototype, which is still a hostage in Georgia following the Russian invasion, Schrameck said. The airplane is one piece, and the company is planning to eventually airlift it out of Tbilisi Aircraft Manufacturingâs (TAM) facility in Georgia. The airplane has been imprisoned at the companyâs hangar since Russia bombed the airport.
Schrameck said the problems in Georgia, the complexities of the airplane and a
setback in funding have all contributed to lost certification time for the Elite. To date the company has not received the $200 million promised by Indian billionaire Vijay Mallya at last yearâs NBAA Convention. âWe detrimentally relied on the investment, and it has not happened,â he said. âVijay still has not made the investment he committed to.â
Schrameck added, however, that the company âis still here,â in spite of the lost financing and recent bankruptcies and financial turbulence among other VLJ manufacturers. âEpic still stands,â he said. âWeâre here, and weâre profitable.â The company has a backlog of $100 million, he said.
In other news, Schrameck announced that Epic is moving forward with plans to divide the company into individual, wholly owned businesses. The experimental product group will consist of Epic Air and aircraft completions services (ACS), and the technology group will consist of aerostructure composites, design R&D and certifications. Schrameck said the company is separating so the FAA can âbetter define what we do.â He said dividing the business has so far proved to work âphenomenally well.â