The aviation industry continues to reel from the impact of the COVID-19 pandemic. The latest casualty is Aerion Corp., the supersonic-jet developer, which is ceasing operations after failing to secure enough money to start building the aircraft.
The company announced its decision to stop operations last weekend after failing to raising the large investment needed to move the AS2 private jet from design to production. The company had said in March that output of the first planes would start in 2023 at a factory in Melbourne, Florida, with the first commercial delivery expected in 2027.
Aerion’s goal of reviving civilian supersonic travel for the first time since the 2003 demise of the Concorde had many backers, including Boeing that announced “significant” backing for Aerion in 2019. Boeing had however dissolved its Boeing NeXt investment unit last year after being hit the twin setbacks of the pandemic and the grounding of its bestselling 737 Max aircraft.
Aerion had also signed up General Electric Co. to supply engines and amassed more than US$11 billion in orders. , including a recent deal for 20 planes from NetJets, a unit of Warren Buffett’s Berkshire Hathaway Inc.
“While we are disappointed Aerion could not secure additional funding to continue their work, we remain committed to working with innovative and creative partners who, like Aerion, continue to push limits on groundbreaking technology,” Boeing said in a statement.
Aerion’s AS2 was designed to cruise at 1.4 times the speed of sound, or a bit more than 1,000 miles per hour, over water. It would have flown at just below the sound barrier when operating over land to comply with restrictions on supersonic flights.
The U.S. Army has awarded Lockheed Martin a $451 million contract to recapitalize additional M270 systems expanding its domestic fleet…
Japan Airlines announced the unveiling of a captivating special livery on its Boeing 787-8 aircraft (registration JA823J) for its international…
Airbus Defence and Space, leading the Eurodrone programme, has concluded the Preliminary Design Review (PDR) milestone. This achievement, overseen by…
Gauzy, a company specializing in vision and light control solutions, is gearing up to unveil its latest innovations at the…
The German Heron TP (GHTP), developed by UAV PEO at the Directorate of Defense Research and Development at the Israeli…
AirFi announced its partnership with United Enterprise (UE) to establish AirFi China, located at Baiyun International Airport in Guangzhou, China.…
The Royal Thai Navy (RTN) is likely to accept the continuation of the S26T submarine project with Chinese CHD 620…
The Indonesian Air Force (TNI Angkatan Udara / TNI AU) received its fifth and final C-130J Super Hercules aircraft at…
The all-new Gulfstream G700 has received European Union Aviation Safety Agency (EASA) type certification, following the aircraft's Federal Aviation Administration…
The President of the Philippines, Ferdinand Marcos Jr., has confirmed that South Korea's Hyundai Heavy Industries (HHI) is entering Subic,…
The Indonesian Navy (TNI AL) has dispatched 1,380 personnel to partake in the Cooperation Afloat Readiness and Training 2024 (CARAT…
The 737 MAX series aircraft has been added to its Dothan, Alabama MRO facility certification, Commercial Jet Services has said.…
Korean Air has been recognised for its food and beverage service by Global Traveler in the magazine’s 2024 Leisure and…
Fokker Next Gen, a liquid hydrogen powered commercial aircraft manufacturer that plans to produce aircraft both in the Netherlands and…
Sanad, wholly owned by Abu Dhabi’s Mubadala Investment Company PJSC (Mubadala), has unveiled a strategic transaction between itself and CFM…
Azzera, Inc. has been selected by Pratt & Whitney to supply carbon credits for Pratt & Whitney Canada’s Carbon Offset…
The Indonesian Navy (TNI AL) is planning a procurement program for interim submarines to augment its fleet while awaiting the…
Calian Group Ltd., a diversified company specializing in healthcare, communications, learning, and cybersecurity products and services, has completed the acquisition…
Vietjet announces a series of special promotions aimed at travellers seeking summer adventures. The airline offers discounted tickets and daily…
EDGE Group has inked a contract valued at USD 27 million (AED 99 million) with Indonesian state-owned enterprise PT Pindad…
LanzaJet, Inc., a sustainable fuels technology company and producer, today announced the appointment of Doreen Pryor as Chief Financial Officer…
Transport Canada Civil Aviation has recently granted type certification to Pratt & Whitney Canada (P&WC) PW545D engine, marking an important…
Airbus Helicopters and Babcock have secured a contract to provide support for 48 EC145s operated by the French Ministry of…
The Indonesian Navy (Tentara Nasional Indonesia Angkatan Laut / TNI AL) recently launched two Pari-class patrol vessels. Constructed by PT…
A delegation from the Royal Malaysian Air Force (Tentera Udara Diraja Malaysia / TUDM) is reportedly set to engage in…
VARD, a subsidiary of the Fincantieri Group based in Norway, secured a contract to construct two Commissioning Service Operation Vessels…
Leonardo announced the finalization of an agreement to sell its Underwater Armaments Systems (UAS) division to Fincantieri on Thursday. “The…
General Atomics Aeronautical Systems, Inc. (GA-ASI) is partnering with Shift5 to integrate the company’s onboard cyber anomaly detection and predictive…
The Malaysian Ministry of Defence (Mindef) has finalised 40 agreements totalling RM7.3 billion, encompassing seven contracts valued at RM1.90 billion,…
Leonardo, an Italian aerospace company, and the Ministry of Defense of Malaysia (Mindef) have marked a significant milestone during the…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.