LONG BEACH, Calif., Aug. 6, 1999 (PRIMEZONE) -- Advanced Aerodynamics & Structures, Inc. (Nasdaq:AASI) today announced that it will offer a certification option, designated as single engine part 135 certification by the Federal Aviation Administration (FAA), for its new JETCRUZER 500 aircraft. The inexpensive add-on certification is expected to appeal to a larger market by allowing a broader commercial utilization of the aircraft.
A key component of part 135 certification is the addition of redundancies for safety, including a dual-electrical system; full, three-axis auto pilot; and, back up artificial horizon features. Part 135 certification enables companies to charge for flights, carry freight or provide air ambulance, short haul charter or commuter services into small cities and towns not served by large commercial or commuter airlines.
The JETCRUZER 500 aircraft's current amendment, when received, allows personal and corporate owners to fly under Instrument Flight Rules, at night, during known icing and severe weather conditions, but not on a fee-for-service basis.
Dr. Carl Chen, president and chief executive officer, said, "Part 135 certification leverages AASI's position within the company's aviation market segment, while not delaying the current Type Certification process for the JETCRUZER 500."
He indicated that the company expects an increase of over 21 percent in additional sales by offering Part 135 certification. Dr. Chen added that freight companies and commuter and charter companies are important potential customers and will find the aircraft an economical option, with attractive high-speed capabilities.
The JETCRUZER 500 is a high-speed single engine, corporate propjet aircraft that can accommodate first class seating for six people, including the pilot. Powered by a Pratt & Whitney propjet engine, the JETCRUZER 500 will fly at 360 miles per hour from Los Angeles to New York at altitudes up to 30,000 feet, with only one stop.
To date, AASI has orders for over 172 of the corporate aviation industry's newest executive propjet aircraft, representing a backlog that exceeds $200 million.
Advanced Aerodynamics & Structures, Inc. is a development-stage company organized to design, develop, have certified by the FAA, manufacture and market propjet and jet aircraft for the world business, commercial and government markets.
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Certain statements contained in this news release, including statements concerning the Company's future cash and financing requirements, the Company's ability to continue to obtain market acceptance of the JETCRUZER 500 aircraft, the Company's ability to obtain regulatory approval of the JETCRUZER 500, and the competitive market for sales of small business aircraft and other statements contained herein regarding matters that are not historical facts, are forward looking statements; actual results may differ materially from those set forth in the forward looking statements, which statements involve risks and uncertainties, including without limitation those risks and uncertainties set forth in the Company's Registration Statement on Form SB-2 under the heading "Risk Factors", and the Company's Form 10-KSB and Form 10-QSB on file with the SEC.