AASI Receives 22 Additional Confirmed Orders for JETCRUZER Aircraft; Increasing Backlog to 53; New Orders Valued at Over $26 Million, Backlog Now Exceeds $65 Million.LONG BEACH, Calif.--(BUSINESS WIRE)--Aug. 13, 1997--Advanced Aerodynamics aerodynamics, study of gases in motion. As the principal application of aerodynamics is the design of aircraft, air is the gas with which the science is most concerned. & Structures Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AASI AASI American Association of Snowboard Instructors (affliated with Professional Ski Instructors of America) AASI Abel Assessment for Sexual Interest AASI Automobile Association of South India ) Wednesday announced that over the last 30 days it has received 22 additional confirmed orders with non-refundable deposits for its new JETCRUZER 500 propjet executive aircraft. This latest round of orders, valued at over $26 million, brings the total backlog of confirmed orders for the JETCRUZER 500 to 53 aircraft with a total value exceeding $65 million. Deliveries are expected to begin in the third quarter of 1998. The JETCRUZER 500 is a single engine propjet aircraft based on an advanced canard ca·nard n. 1. An unfounded or false, deliberately misleading story. 2. a. A short winglike control surface projecting from the fuselage of an aircraft, such as a space shuttle, mounted forward of the main wing and wing design. The new aircraft features high-speed (320 kts, 360 mph) performance for the world corporate aircraft market. With a list price of $1.295 million, JETCRUZER 500 provides high performance, safe transportation at the lowest price yet available. The new JETCRUZER 500 fuselage is much longer than the previously FAA-certified JETCRUZER 450 allowing first class passenger seating and comfort for six (including the pilot) and a substantially larger luggage area. A more powerful model propjet engine by Pratt & Whitney makes the airplane the fastest single-engine propjet aircraft in the world. The cabin features 30,000 ft. pressurization Pressurization generally refers to the application of pressure in a given situation or environment; and more specifically refers to the process by which atmospheric pressure is maintained in an isolated or semi-isolated atmospheric environment (for instance, in an aircraft, or . The combination of these features permits speed and higher-altitude performance that allow the JETCRUZER 500 to approach the performance of light jets (360 mph) at a fraction of their purchase and operating costs operating costs npl → gastos mpl operacionales . AASI President and Chief Executive Officer Carl Chen, Ph.D., stated: "This substantial increase in sales shows that our strategy of an advanced canard wing design, fastest cruise speed and lowest price is paying off. We believe owners and passengers are the most important factors in designing new aircraft and we believe sales are substantially increased when customer satisfaction is enhanced through the lowest prices, highest quality and latest in safety innovations." AASI invested $25 million in private funds since 1990 and received an additional $32 million net in December 1996 through an Initial Public Offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ). The company recently concluded an Industrial Development Bond (IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, ) with the state of California for an additional $8.5 million for the construction of a 200,000 sq. ft. manufacturing facility at Long Beach Airport. AASI Executive Vice President Gene Comfort commented: "The market for the JETCRUZER has stepped up to a fast pace and is increasing steadily. Based on the excellent public response to the JETCRUZER, I believe we will reach our one year goal of 100 aircraft by May 1998 substantially earlier than expected. We are expanding our international sales and distributorship programs to meet these new goals." Advanced Aerodynamics & Structures is a publicly-traded, development stage company organized to design, develop, obtain certification by the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control (FAA), manufacture and market propjet and jet aircraft for the world business, commercial and government markets. CONTACT: AASI, Long Beach Gene Comfort, 562/938-8618 or Allen & Caron Kent Broussard (investors), 212/698-1360 Rene Caron (investors), 714/252-8440 Owen Daley (media), 714/252-8440 |
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