Utilicraft Aerospace Industries is a company created in December 2004 by a spin-off of American Utilicraft Corporation as they moved their headquarters to Albuquerque, New Mexico. Their sole project was the model FF-1080-300ER, a short-haul cargo (freight feeder) aircraft for shipping and courier services. As a startup company, they advertise minimalist engineering to reduce time to market, forgoing cabin pressurization and a retractable landing gear yet lifting a 10-ton cargo pallet.
Announced customers have included Benin Airlines, Afra Airlines, and Mid America Aero, LLC. companies.
Production was scheduled to begin at about 24 planes per year beginning in late 2007. Until FAA certification of their first model, which would take some years, they intended to rely on the International freight feeder market.
Utilicraft generated initial capital with an IPO, so their survival depends on the stock market and their investor relations. Their stock began 2007 at $1.00 per share and fell to $0.06 by the end of the year. It has not traded over ten cents since.
In 2007, the Company sold its freight aircraft development program for a major equity interest in Freight Feeder Aircraft Corporation www.freightfeeder.com, plus a royalty on 2,000 aircraft. Freight Feeder Aircraft Corporation is continuing the development of the aircraft program.
Utilicraft is now seeking new products via mergers and acquisitions.
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utilicraft, aerospace, industries, this, article, does, cite, sources, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, november, 2014,. This article does not cite any sources Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Utilicraft Aerospace Industries news newspapers books scholar JSTOR November 2014 Learn how and when to remove this message Utilicraft Aerospace Industries is a company created in December 2004 by a spin off of American Utilicraft Corporation as they moved their headquarters to Albuquerque New Mexico Their sole project was the model FF 1080 300ER a short haul cargo freight feeder aircraft for shipping and courier services As a startup company they advertise minimalist engineering to reduce time to market forgoing cabin pressurization and a retractable landing gear yet lifting a 10 ton cargo pallet Announced customers have included Benin Airlines Afra Airlines and Mid America Aero LLC companies Production was scheduled to begin at about 24 planes per year beginning in late 2007 Until FAA certification of their first model which would take some years they intended to rely on the International freight feeder market Utilicraft generated initial capital with an IPO so their survival depends on the stock market and their investor relations Their stock began 2007 at 1 00 per share and fell to 0 06 by the end of the year It has not traded over ten cents since In 2007 the Company sold its freight aircraft development program for a major equity interest in Freight Feeder Aircraft Corporation www freightfeeder com plus a royalty on 2 000 aircraft Freight Feeder Aircraft Corporation is continuing the development of the aircraft program Utilicraft is now seeking new products via mergers and acquisitions This aeronautical company related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Utilicraft Aerospace Industries amp oldid 1025412660, wikipedia, wiki, book, books, library,
