Epic Aircraft announced March 6 that it has been sold to a Russian MRO by the name of Engineering llc and plans to put its kit LT single-engine turboprop aircraft into FAA-certified production. Terms of the deal were not disclosed.
Work on certifying the PT6A-67-powered aircraft has already begun, Epic CEO Doug King told AIN, and the company hopes to have the aircraft certified in three years and for sale at a price between $2.5 million and $3 million. For now, Epic operations will remain at the company facility in Bend, Ore., where it is producing kits for the LT and the smaller and faster Escape under builder-assistance programs for $1.9 million and $1.25 million, respectively. The LT kit is powered by a factory-new PT6, while the Escape is offered with a rebuilt Honeywell TPE331-10. The first customer Escape is due to be completed this summer, King said. Thirty people currently work at the company and King said there are immediate plans to double the payroll to support LT certification efforts within the next 12 months. For now, Epic has no plans to place any aircraft other than the LT into certified production. King said Epic plans to rename the certified version of the LT, but that a new name has yet to be chosen. King led the LT Builders’ Group purchase of Epic assets from bankruptcy in 2010 for $4.3 million, and said he plans to stay with the company.
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