Aerion Supersonic & Spirit AeroSystems Expand Agreement
RENO, Nev. and WICHITA, Kan., July 28, 2020 /PRNewswire/ — Supersonic aircraft company, Aerion, the leader in supersonic technology, today announced it has entered into a memorandum of agreement to expand the role of Spirit AeroSystems [NYSE: SPR] in the development of the AS2 business jet to include production of the forward fuselage. As part of the agreement, Spirit has committed to additional investment in the AS2 program and has increased engineering resources working on the design of the AS2’s forward fuselage.
Aerion and Spirit first began formal collaboration in early 2019, working on preliminary design of the AS2’s forward, pressurized fuselage. Joining the project in the early formative stages of the AS2, Spirit’s technical expertise has significantly advanced the design evolution as Aerion moves the supersonic business jet toward production beginning in 2023. At full rate, it is expected that Spirit will build 36 forward fuselage assemblies per year.
«Spirit AeroSystems has been an outstanding partner in the design and development of the AS2, and their considerable aerostructures expertise has proven a core enabler in the evolution of our program,» said Tom Vice, Aerion’s Chairman, President & CEO. «I’m delighted to have expanded our already excellent relationship and look forward to continued collaboration between our two companies as we bring the AS2 to market.»
«Through our collaboration with Aerion, we have contributed innovative and cost-effective design solutions to help make the AS2 Supersonic Jet a reality,» said Tom Gentile, President and CEO, Spirit AeroSystems. «With our expanded agreement, Spirit will bring both its manufacturing and design capabilities to this revolutionary aircraft program.»
Aerion’s pursuit of faster point-to-point travel begins with the launch of the new AS2 supersonic private jet. Designed to be inherently environmentally responsible from first flight, the AS2 is the first supersonic jet designed to be powered by 100 percent synthetic fuel and reach supersonic speeds without the need for an afterburner.
The AS2 will be the first aircraft to be assembled at Aerion’s new global headquarters in Melbourne, Florida – Aerion Park. The state-of-the-art development, powered by clean energy, will incorporate headquarters operations plus an integrated campus for research, design, build and support of the company’s new supersonic aircraft.
About Aerion Corporation
Aerion is founded on a core belief of bringing humanity closer. The company’s vision is a future where humanity can travel between any two points on our planet within three hours using new transportation networks – powered by clean energy solutions and enabling a world where distance is no longer a barrier. The starting point is sustainable supersonic flight, led by the world’s first supersonic business jet – the AS2. More information can be found at www.aerionsupersonic.com.
About Spirit AeroSystems
Spirit AeroSystems designs and builds aerostructures for both commercial and defense customers. With headquarters in Wichita, Kansas, Spirit operates sites in the U.S., U.K., France and Malaysia. The company’s core products include fuselages, pylons, nacelles and wing components for the world’s premier aircraft. Spirit AeroSystems focuses on affordable, innovative composite and aluminum manufacturing solutions to support customers around the global. More information is available at www.spiritaero.com
Cautionary Statement Regarding Forward-Looking Statements
This press release contains «forward-looking statements» that may involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as «aim,» «anticipate,» «believe,» «could,» «continue,» «estimate,» «expect,» «goal,» «forecast,» «intend,» «may,» «might,» «objective,» «outlook,» «plan,» «predict,» «project,» «should,» «target,» «will,» «would,» and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management’s current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, without limitation, the timing and conditions surrounding the return to service of the 737 MAX and any related impacts on our production rate; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to timely complete and integrate our announced Asco and Bombardier acquisitions; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical conditions in the industries and markets in which we operate in the U.S. and globally; our ability to manage our liquidity, borrow additional funds or refinance debt; the impact of the COVID-19 pandemic on our business and operations, including on the demand for our and our customers’ products and services, on trade and transport restrictions, on the global aerospace supply chain, on our ability to retain the skilled work force necessary for production and development and generally on our ability to effectively manage the impacts of the COVID-19 pandemic on our business operations; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE Aerion Supersonic