The
Jetcruzer 500 of Advanced Aerodynamics & Structures Inc
(AASI) won a major order from China, the company announced
last week.
China Eastern Aviation Educational Training Co (China Eastern)
signed a letter of intent to purchase 30 AASI Jetcruzer
500s, with options to buy an additional 20 aircraft.
Deliveries are expected to begin in 2001.
"We are very impressed with the Jetcruzer's performance
and cost," said Zhang Fen, general manager of China Eastern.
"It is an ideal plane to meet our strategic plans. With
the addition of these aircraft, we will be at the forefront
for taking advantage of the China Central Government's new
`Go West, Develop West' incentive policy.''
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 aircraft will cruise at near
jet speeds of 345 miles per hour at altitudes of up to 30,000
ft.
Since participating in the China Beijing Aero Expo in October
of 1997, AASI has paid special attention to the huge potential
general aviation market in China, said Dr. Carl Chen, chairman
and CEO of AASI.
"After learning of the first private pilot training license
granted in China earlier this year, I made a special trip
in July to China to discuss with China Aircraft the advantages
the Jetcruzer 500 has over other aircraft in this market.,"
said Chen.
Chen anticipates that the fastest-growing opportunity for
AASI Aircraft in the world market is "without exception,
in China."
Chen believes this growth will occur in both the general
and corporate aviation segments, and AASI plans to play
an early and significant role in this accelerating growth.
"This letter of intent is a true example of the large scale
globalization potential for AASI Aircraft," he said.
China Eastern is the only commercial pilot training school
currently approved by the China Central Government. Chen
said that China Aviation expects to obtain, within a few
months, a regional airline air taxi service license to serve
the east coast of China and then extend operations to serve
all of China.
AASI says its current backlog now totals $226 million.