Graham Swannell, CEO; Donald Joseph, president; and Geoffrey Danes, director of operations, research and development–the three principals of Explorer Aircraft–had expected to move into the company’s 14,000-sq-ft “certification facility” in an industrial park on Jasper County (Texas) Bell Field over Christmas. That didn’t happen, but the facility is now nearly finished and three owner/directors plan to move in “this month or next,” Joseph told AIN, sounding little concerned about the delay.
“Our main focus right now is raising more capital,” he said, echoing an increasingly common lament among the airplane OEM startups. “Raising capital is never easy, so we haven’t seen a lot of change since September 11. Private investors have a very cautious mindset. Everyone still wants to see the level of returns they were getting from the dot-coms when they were still hot, which you can never get from an airplane company. We need investors who are willing to go in for the long term. The people who were with us during the initial stages are still here.”
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