Emivest Aerospace has lofty plans for SJ30 light business jet program | Aviation International News

Emivest Aerospace has lofty plans for SJ30 light business jet program

Dubai-based Emivest (Emirates Investment and Development Co.) became the majority (80 percent) shareholder of former Sino Swearingen Aircraft in June when

By AIN Staff • AIN Staff

November 16, 2008

Dubai-based Emivest (Emirates Investment and Development Co.) became the majority (80 percent) shareholder of former Sino Swearingen Aircraft in June when it agreed to pump a minimum of $150 million into the San Antonio, Texas-based aircraft manufacturer to restart and accelerate production of the $7.5 million SJ30 light jet. Last month at the NBAA Convention in Orlando, Florida, it renamed the company Emivest Aerospace.

Other than this sizable influx of funds, the strong backing of its new investor, a new company name and a new management team, nothing else has changed–at least not yet. The new owner intends “to infuse new energy into the company” and bring the Williams-Rolls FJ44-2-powered SJ30 into large-scale production. According to acting CEO Anthony Power, the new management team is still evaluating options regarding the operation. So far, two SJ30s have been delivered since the twinjet obtained FAA certification in October 2005.

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