When start-up aviation companies throw in the towel its almost unheard of for them to come out for another round, but Aviation Technology Group (ATG) is apparently game for another swing at developing its sexy two-place executive jet, the Javelin. The Colorado company suspended operations in December and a news release issued Tuesday says the board of directors has successfully renegotiated deals with its main lenders. Now, the company is in a position to look for a buyer to (hopefully) fund the completion of the certification process and starting production, which could run $200 million. Multiple teams are pursuing a list of potential buyers, the release said. Though subject to change, the general plan in this regard is to ask for best and final offer bids from prospective buyers to reach ATG within the next few weeks. The Javelin is always a crowd pleaser at airshows but its curb appeal may not be what saves it. Although there will certainly be civilian demand for the fighter-like aircraft, a large part of the development effort is focused on military trainers, including possibly a supersonic version. Israeli Aircraft Industries is involved with development of the military version, which comes with ejection seats and military avionics.
ATG Stirring Back To Life?
Key Takeaways:
- Aviation Technology Group (ATG) is attempting a comeback for its Javelin executive jet project after suspending operations, having renegotiated with its main lenders.
- The company is actively seeking a buyer to fund the estimated $200 million required to complete certification and begin production.
- The Javelin project targets both civilian and military trainer markets, with a strong focus on a military version, including a potential supersonic variant developed with Israeli Aircraft Industries.
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