Newsletter 8   
March   2013
 
Greetings!

    VisionAire Jets continues to thank all of its supporters as we move forward in our endeavor to bring jobs, economic
development, and growth to Catawba County, North Carolina and the surrounding areas by building the first and finest entry-level,
single-engine business jet for the world's business aviation market.
Vision and Commitment for a Future Beyond 
          and Above the Skies of Tomorrow.... 

 

Where are we now and where have we been...  VisionAire Jets is positioned to fill a void in the business aviation market with an innovated composite design utilizing the latest technology which provides the right mix of speed, range, comfort, and affordability.  This opportunity that began as a vision is now becoming a reality and soon VisionAire Jets will become a leader in the Entry-Level Business Jet market.

VisionAire Jets has a defined design, time-line, budget, and program plan, as well as, an amazing team to take our program through certification and into production.  Our team has met with the FAA (Federal Aviation Administration) as the initial step in the certification process.  We have an unique investment opportunity that is being received very favorably within our local area and we will continue to raise capital in the surrounding areas as we work on finalizing negotiations with multiple groups that will potentially fund our entire program.  In addition, we are building the structure to ramp up all areas of our operation from the staffing to the tooling and facilities, as well as, sales and marketing for both the domestic and international markets.

As you will see in our Recap of 2012 we have positioned ourselves for big things to happen in 2013 and the years to come.  Thank you for being a part of our vision.



Jesse Braswell (left), VisionAire Jets' CFO and Marc Bailey (right), VisionAire Jets' Executive VP of Business Operations working on  the final updates of the Financial Projections and Due Diligence  Package.  Our Program Plan, Financial Projections and Due  Diligence Package provide our potential full funding partners
 with the monthly details for the buildup of every aspect of the  certification and production processes.

Recap of 2012   

        
January - February          
    
Retrieved Vantage mockup transport trailer and Full-Scale Mock-up from Iowa State University Aerospace Science building lobby, Ames, Iowa, and brought to Catawba County for clean-up, spruce-up.

2 mockup
Vantage Full-Scale Mock-up
   

    Continued examination of intellectual property, including design drawings, design processes, FAA certification plans, and other documents needed to ramp up development and manufacturing program.   

   

 

 March - April

 

       Prepared Vantage Full-Scale Mock-up for Open House at Conover Station in April - as well as video and Power-Point presentation for use in explaining the opportunity for Catawba County.   

  

     Negotiated for movement of the disassembled Vantage Proof-of-Concept aircraft, which has completed over 500 flight hours, so that it can be upgraded with a more advanced jet engine.

 

    

 
May - June

     Prepared Vantage Proof-of-Concept aircraft for showing to the public.

Opened Sales and Administration office in the Terminal Building at Hickory Regional Airport.
VisionAire Jets' Sales and Administration office in the Terminal Building at Hickory Regional Airport.

     Held Open House, encompassing six information sessions on June 19-20 at Hickory Airport where over 200 persons viewed the Proof-of-Concept aircraft and saw a video and Power-Point presentation about future plans.
Jim Rice VisionAire Jet's President and CEO address the crowd during the company's open house June 19-20, 2012

Hickory Drendell
 Hickory Regional Airport, June 19, 2012: Jim Rice (left), CEO of VisionAire Jets, and Frank Drendel (center), Chairman CommScope, discuss both the VisionAire Vantage and the Hickory Aviation Museum with Chris Newton and Kyle Kirby (far right), who are both aviation enthusiasts.


July - August

     Brought in additional Management, Engineering, Manufacturing, Quality and FAA personnel to develop a full-scale program plan to re-start of design refinement, FAA certification, tooling and manufacturing disciplines.

August program meeting held at VisionAire Jets'  Newton, NC engineering facility
 

  (From left to right) Tom Stark, Vice President of Engineering, discusses Vantage aircraft specifications with Pete Edwards, Director of Operations and Quality Assurance, Dennis Olcott (standing), Chief Engineer, Bob Bresette, Executive Vice President of Manufacturing Operations, and Steve Fennell, Director of Sales and Marketing, during a week-long program planning and refinement meeting in the Company's Newton offices.
 
 
September - October

     Began efforts to acquire the major funding ($100 million) required to carry the Vantage program through to the point of delivering FAA certified aircraft.

 

 

November - December

   Received interest from a total of five separate funding entities, each of which approach could fund the entire remaining capital requirements for the next three to four years.  Prioritized them, and began negotiations with the top one.
Getting the Vantage Ready for Flight
Systems check 

     In May of 2012 Steve Fennell, Sales Director, contracted a local specialty hauling company out of Matthews North Carolina to transport the proof of concept VisionAire Vantage from its location at Indian Hills Community College Aviation Technology School in Ottumwa, Iowa to our company facilities at The Hickory Regional Airport.

Steve Fennel working on the instrument panel of the Vantage aircraft.
.

Frank Reinhardt, Airframe/Powerplant mechanic inspecting one of the Vantage aircraft's wiring harness.


     Upon arrival in Ottumwa the aircraft wings were removed for transport. When the Vantage arrived in Hickory the wings were re-attached and refurbishment began. Sub-contract A&P mechanics were secured for the project; a suitable aircraft engine was located along with various avionic components needed to outfit the aircraft for marketing and demonstration flights. This project is ongoing and expected completion date is the latter half of 2013.

Systems checks of the Vantage aircraft underway in the VisionAire Jets hanger at the Hickory, NC Airport.

     In June of 2012 the aircraft in was introduced to the Catawba County community at an event held at the Hickory Regional Airport. The event was attended by more than 200 guests.

 

 The Vantage Aircraft 
& Mockup Visits

 

VisionAire Jets has their flying prototype available for viewing and their full scale mockup available for boarding.

Please call our offices and schedule a time you would like to bring in friends and or associates and visit.

    

 

877-334-8504




Jim Rice, CEO
VisionAire Jets, LLC

 
In This Issue
Our Vision and Commitment
Recap of 2012
Vantage Systems Check
Visit Us
Marc Bailey
Bob Bresette
Dennis Olcott
Mary Hartsoe
Pete Edwards
David Sexton
Charles Gnatt
 
Marc Bailey
Executive Vice President of Business Operations



     Marc Bailey comes to VisionAire Jets with an extensive background of managing all aspects of a business operation. Over the past 25 years Marc has been President of a multi-level distribution company covering the Southeast within the construction industry. During his career, he has effectively incorporated cutting edge technology, as well as, a corporate aircraft into his business allowing for consistent growth and market penetration.

Marc has a Bachelor of Science Degree in Business Administration from the University of North Carolina at Charlotte, NC with a concentration in finance and marketing. In addition, Marc has extensive experience flying multi-engine aircraft for over 15 years.
   
 
Bob Bresette
Executive Vice President of Manufacturing Operations



     Bob Bresette is a thirty year veteran of the aviation industry functioning as a senior level executive for aerospace manufacturing and operations. During this time, Mr. Bresette has helped start-up programs for industry giants like McDonnell Douglas, Lockheed, and NASA. Having experience leading large teams of up to 1,600 people with budgets in excess of $600 million, Bob is a great asset to have leading VisionAire Jets' manufacturing and operations programs.

 
Dennis Olcott,
PhD, PE

Chief Engineer



     Dr. Dennis Olcott has been retained to lead FAA Certification and design for manufacturing and production in Catawba County (NC). He recently served as Vice President of Engineering and Senior Director of New Product Development at Piper Aircraft responsible for aircraft certification, flight testing, and production support engineering. Prior to working with Piper, Dennis worked on FAA Certification and final design for Adam Aircraft in Denver, Colorado. In addition, he has worked extensively with Burt Rutan, builder of the VisionAire Vantage flying prototype, and was previously contracted to do follow up assignments to build the production wing and empennage for the Vantage at Scaled Technology Works in Montrose, Colorado.

During Dr. Olcott's two decades of aerospace experience, he has been an integral component in helping take three composite aircraft through the entire FAA Certification process at Adam Aircraft Industries, Lancair International, and Cirrus Aircraft Corporation. At each of these positions Dennis has developed an exceptional background in aeronautical composite structures.

Dr. Olcott obtained his Ph.D. in Mechanical Engineering from Brigham Young University in 1992 with an emphasis on  advanced composite structures.

 
Mary Hartsoe 
Director of Resource Management

 

 Mary Hartsoe joined the VisionAire Jets team with a broad responsibility as Director of Resource Management
utilizing Microsoft Project in program management, manpower management including human resource activities,
vendor relations including costing and other activities involved with working with senior management in keeping
the engineering and manufacturing operations program on time and on budget.

She is a native of Catawba County.  A  graduate of Lenoir Rhyne College with a degree in Business Administration,
she completed her post-graduate studies at Appalachian State University, with a concentration in Marketing and Business Education.  She has extensive experience in Project Management activities as well as purchasing and logistics, and is a former business educator in the Hickory City Public School System.

"I believe the skills I obtained working with the Project Management Team at Alcatel Telecommunications for seven
years are directly transferable to the VisionAire Jets Project," Mary stated. " In addition, working as a buyer and purchasing agent in the furniture industry for many years has given me the experience needed to assist in
coordinating the purchase of parts, equipment, and accessories for this project.  This is an exciting time for

Catawba County and I am honored to be a part of this business venture," she concluded.

 

 
Pete Edwards
Director of Operations and  
Quality Assurance
 


     With twenty-nine years of experience in aerospace reliability, maintainability, quality systems, and support, Peter Edwards brings VisionAire Jets an established professional in the field of aviation quality control.

Mr. Edwards has worked extensively with government and private sector companies developing and implementing quality management systems that help meet the needs of customers and other stakeholders while complying with statutory and regulatory requirements related to particular aeronautical products.

His background working with the Federal Aviation Administration (FAA) will provide a strong advantage to VisionAire Jets. Mr. Edwards was a key figure in VisionAire Corporation from 1996-1999 and developed the company's extensive quality control procedures.

Peter received his Bachelor of Science in Aeronautics/Engineering from Embry-Riddle Aeronautical University (Daytona Beach, FL) and is a Certified Quality Auditor with the American Society for Quality. 
   
 
David Sexton
FAA Certification Liaison



     David Sexton has over thirty years of involvement with aircraft operations. Serving for twenty years with the Federal Aviation Administration (FAA), Mr. Sexton has been engaged by VisionAire Jets to work exclusively with FAA planning and implementation over the next several years.

His former experience with the FAA will serve the Company well as he provides a valuable connection between the Atlanta Flight Standards District Office (FSDO) of the FAA and VisionAire Jets. FAA Certification is an ambitious and costly undertaking and having an effective liaison to advance the process smoothly will save precious time and resources. 
 
 
Charles Gnatt
Investment Consultant



     Charles Gantt, a native of Conover, North Carolina; joined VisionAire Jets mid-year, 2012 as Investment Consultant working with persons interested in the investment opportunity offered by VisionAire Jets.

     "I have always enjoyed a challenge," Gantt said. "Meeting and exceeding goals, set by sales managers, of the manufacturing companies I have worked with as a representative in North Carolina has always been stimulating," he continued.
 
     "Retiring from the furniture wholesale business after 34 years brought an idleness with which I could not abide," he said.

     Seeing the VisionAire office in Newton, prompted a phone call to a fellow that he had known since age12, Jim Rice, the founder and CEO of VisionAire Jets, LLC.

     "Jim had returned to this area after 28 years in St. Louis," Gantt explained, "and after a conversation with Jim, I was hired as an Investment Consultant."

"This was a challenge that I could get serious with," Gantt stated, "one that I could share with friends, giving them the opportunity to purchase units of ownership in an aerospace company that was locating here in Catawba County. "

"After seeing the flying prototype of the Vantage, a plane that has over 500 flight test hours under its belt, as well as the full-scale mock-up of the interior," he said "I knew this was something that I would like to share. The opportunity to own a small piece of this company and the possibility of earning sizeable returns on an investment in a company doing business internationally comes along rarely," Gantt concluded.

"Charles recognized both the benefit of bringing the manufacturing of the VisionAire Vantage to Catawba County," Rice offered. "Also of importance to Charles is that customers of the Vantage would have smaller capital expenditures, as well as a savings of over 40% in operating costs."

 " Charles' broad knowledge and fondness for people, as well as his tenacity in showing the opportunity available to potential investors,  has been a valuable addition to VisionAire Jets," Jim Rice, CEO of VisionAire, concluded.