October 12, 2009 – Bend, Oregon – Stratos Aircraft announced it has received the first deposits for its new Stratos 714 Very Light Personal Jet (VLPJ) just as they send off the full-scale cabin mock-up to Orlando, Florida to be on display for the first time at this year’s National Business Aviation Association Annual Meeting & Convention (NBAA) October 20 22 (Booth # 3905).
Mr. Verson Pandian, owner of Cascade Air Charter in Bend, Oregon, is the first Stratos 714 buyer to take advantage of the fully-refundable Assurance Deposit Program™ that was just introduced. This innovative new program assures buyers that their deposits will be held in escrow, and can be refunded at any time. The Assurance Deposit Program is designed to hold deposit funds in an interest-bearing escrow account at Wells Fargo Bank where the funds remain secure until applied to a progress payment made after a formal aircraft purchase agreement has been signed.
“The 714 is an impressive aircraft and is like no other on the market today,” commented Mr. Pandian of Cascade Air Charter. “The need for speed, performance and value drew me to Stratos and knowing that I am not at risk with my deposit made me feel like the Stratos team really understands my perspective. I am thrilled to be involved with this innovative aircraft design at the ground level and plan to use the 714 in my Part 135 charter business,” added Mr. Pandian.
The Stratos 714 was first introduced last year and is the first VLPJ designed to bridge the performance gap between VLJ aircraft and larger business jets. The aircraft is a clean-sheet carbon composite design, optimized to achieve a cruise speed of more than 400 knots, for over 1500 nautical miles including NBAA IFR reserves, with 4 people seated comfortably and ample baggage storage.
“We are excited to come to NBAA with the Assurance Deposit Program in full swing and to provide NBAA attendees the opportunity to see and experience the Stratos 714’s spacious cabin,” remarked Kevin Jordan, Stratos Aircraft’s Chief Sales Officer.
The Stratos 714 is designed to meet the needs of a growing number of performance-driven aviators who demand more speed and more range in an owner-flown turbine. A leading aerodynamics company has validated the primary performance targets of the Stratos 714 confirming its ability to fly 4 adults with baggage, 1500 nautical miles at 400 knots, with NBAA IFR reserves.
“We saw a niche in the market that was not being met and are focused on filling this gap with the 714,” commented Stratos Chairman Michael Lemaire. “There are many piston and turbo-prop owners that have the need for more speed and range but also want a more efficient jet option with low acquisition and operating costs in these challenging economic conditions. The 714 matches this need and is the only aircraft that will give these pilots business jet performance in a very light jet. We are excited to bring the 714 mock-up to this year’s NBAA convention, especially since there is a focus on the light business aircraft owner. We look forward to a great show,” added Lemaire.
Stratos Aircraft will be holding a press conference at NBAA on October 19th at 2:00 PM to provide the industry media with a program update and the latest announcements.
About Stratos Aircraft
The Stratos 714 is the next generation personal air transportation solution that combines excitement and function with high speed, long range, and spacious comfort, all in one easy-to-fly, easy-to-maintain, very light personal jet. The Stratos management team consists of successful entrepreneurs, business development and execution experts, and experienced engineers. Stratos Aircraft is based in Bend, Oregon, the epicenter of composite General Aviation aircraft design and manufacturing and is dedicated to the design, certification, manufacturing and marketing of the Stratos 714. For more information about the Stratos 714 and their new fully refundable Assurance Deposit Program™ please call +1-541-330-0714 or visit www.stratosaircraft.com.