FOXJET ACQUIRED, HEADING FOR FLIGHTLINE

Tony Fox, the man whose vision conceived the Very Light Jet category, announced this week that he has sold Foxjet International to Millennium Aerospace Corporation of California.

“My dream is to see the Foxjet flying during my lifetime, and I decided it was time for me to pass the torch to a team with the time and resources to make that happen,” said Fox, who at 84 years still manages a multi-million dollar business conglomerate. He is an inventor with 96 patents to his credit, and owned a team of rocket-powered race cars that still holds a world speed record. “I’ve talked with fifty or sixty different prospective buyers recently, and I was convinced Millennium Aerospace has what it takes to get the Foxjet airborne. That’s the most important thing to me.”

Robert Swanson, president of Millennium Aerospace, and Barry Marshall, Product Development Director, met with Fox in Minneapolis this week to close the transaction.

“We’re very happy that we were able to acquire the Foxjet,” remarked Swanson. “The Foxjet practically defines the Very Light Jet category, and we expect it to appeal to a large part of that new market. The Foxjet is fast, it’s economical, and it’s a beautiful aircraft.”

The Foxjet, designed by a team of engineers that was led by Fox, carries six people, with a range of 1400 miles and a maximum speed of 410 mph, in standard configuration. The target sales price is $1.5-million.

Millennium Aerospace intends to refine some systems, and move ahead with the certification process diligently. “The Foxjet was designed for Williams International engines,” explained Marshall, “but now there are several other comparable powerplants to evaluate. We’ll do that this summer, and select the best one to help the Foxjet fulfill its mission –flying passengers safely, quickly, and economically.”

Marshall continued, “Our engineers also plan to incorporate greater use of carbon fiber materials, and we have a team designing a state-of-the-art avionics package for the Foxjet. Those minor modifications will be completed this summer, so we can finish building the production version by the end of this year. Many features – the lines, the size, the patented seating system, for example – require no improvement at all. The fact that the Foxjet is virtually a turn-key design was a major reason we committed to building it, and bought the company.”

“One thing we won’t change is the name,” added Swanson. “Foxjet is a catchy name, and more important, we consider it a fitting, permanent tribute to Tony Fox, whose vision was years ahead of the industry.” Fox has agreed to continue as a consultant as the Foxjet moves toward certification and mass production.

Millennium Aerospace plans to build a new plant to manufacture the Foxjet and other aviation products that will follow. An executive team is currently evaluating several possible locations, primarily in the Gulf Coast region, and conducting discussions with a number of state economic development offices on the subject. Millennium Aerospace is a new subsidiary of Millennium International Group, which has diverse interests in the Caribbean Basin; the Gulf Coast is geographically desirable for that reason. A decision on locating the new facility is expected soon.

DIMENSIONS
Span 31 ft 7.5 in 9.64 m
Length 20 ft 6 1/2 in 6.264 m
Height 10ft 2.75 in 3.12 m
Fuselage diameter 4ft 7in 1.40 m
Tailplane span 13ft 4in 4.06 m
Cabin length 12ft 0 in 3.66 m
Wing area 125 sqft 11.61 m2
Aspect ratio 8

WEIGHTS, LOADINGS
Max. take-off weight 4550 lb 2064 kg
Empty weight 2408 lb 1092 kg
Fuel weight 1418 lb 652 kg
Max. wing loading 36.4 lb/sq ft 177.8 kg/m2

POWERPLANT
Total take-off thrust 850 lb 3.78 kN
Thrust loading 2.68 lb/lb 273 kg/kN

SPEEDS
Max. cruise speed SL (FL360) 356 kts 659 km/h
Best cruise speed (FL360) 286 kts 529 km/h
Stall speed (power off, flaps down) (VSC) 74 kts 137 km/h

TAKE-OFF (ISA, SL)
Ground roll 1600 ft 488 m
Obstacle clearance 15m / 50ft 2700 ft 823 m

LANDING (ISA, SL)
Obstacle clearance 15m / 50ft 1860 ft 567 m
Ground roll 980 ft 299 m

CLIMB AND ALTITUDE
Sea level 3400 ft/min 1035 m/min
Engine out (SL) 1000 ft/min 305 m/min
Service ceiling (FAR limit is 25000ft) 41000 ft 12500 m
Time to climb to 11000 m / 36000 ft 22 min

RANGES
Range at best cruise (45 min res.) 955 nm 1768 km
Maximum range 1215 nm 2253 km

Source: Jane's All the World Aircraft 1980-1981.

Additional information:

Guzin & Steier Law Offices
4525 Wilshire Boulevard, Suite 201
Los Angeles, California 90010

Phone: (323) 932-1600

Email: FOXJET@dslextreme.com