“Rumors of our demise have been greatly exaggerated.” That’s the word from Evolution Aircraft Company as they delivered to Flying an update at EAA AirVenture 2019. “We never went bankrupt or out of business,” says Mark Jean, president of the company.
Evolution is still producing kits in a limited production run, and it brought in a number of projects it has been working on that are complementary to its manufacturing business, with a focused team to execute on them. “We managed to retain several great employees,” says Jean.
The company has been working with several investor groups in negotiations for a little less than a year. “We’re close to achieving a deal to enable us to restart full scale production,” Jean adds.
A few changes have been made along the way, including a significant reduction in the cash outflow rate. They’ve also narrowed their focus to address engineering and manufacturing issues with the airplane.
Parts support and service for Evolution owners has continued throughout. It’s their second year as Evolution Aircraft Company at Oshkosh, with two beautiful aircraft on display. Jean says, “We are engaged in negotiations with new investors, and if you have interest in future collaboration with Evolution, contact us.”
