Aerion Orders Break $3 Billion

With some 40 letters of intent (backed by refundable $250,000 deposits), Aerion announced its backlog sits north of the $3 billion mark for its proposed supersonic business jet, projected to cost $80 million each. Company Vice Chairman Brian Barents is even more bullish on the prospects for the jet now than he was 30 months ago when a study showed a demand for 300 aircraft over 10 years. At the EBACE show in Geneva, Barents cited increased market interest in China, India and Russia-markets not considered in the earlier study. Aerion continues discussions with aircraft manufacturers and has reached a deal with Pratt & Whitney for use of its developmental JT8D-219 engine flat-rated to 19,600 pounds of thrust. Certification of the supersonic business jet is expected in 2014.