Aircraft Manufacturer Celebrates Multi-Million Dollar Order Book And New Test Pilot

Startup aircraft company Cobalt has reached an impressive milestone, announcing this week they have received over $50 million in pre-orders of the company's first model, the Co50 Valkyrie, within the first 90 days. Following the public launch on November 12, 2015, the fully certified version, Co50 Valkyrie, has seen significant interest from investors, pilots and travel enthusiasts around the globe. Cobalt also welcomed a new test pilot to the team. James Schwartz, a former Delta pilot, will command Cobalt's test program for FAA certification.

"The Cobalt Valkyrie is a magnificent airplane and it has created a tremendous amount of much-deserved interest," said James Schwartz, lead test pilot at Cobalt. "It's a beautiful design, profoundly enjoyable to fly, and it will outperform anything in its class. I'm very happy for the opportunity to fly the Valkyrie, and excited to lead Cobalt's flight test program."

Upon opening the order book, Cobalt received hundreds of inquiries to buy the plane, including 29 orders that were placed within the first 24 hours. Many of the interested buyers are from top technology companies in Silicon Valley like Google and Apple. In addition to huge pre-orders from the U.S., the company also witnessed strong pre-order sales in top international markets, including Canada, the United Kingdom, Germany, Australia, and Brazil.

"Cobalt's initial pre-orders have exceeded my expectations," said David Loury, founder and chief executive officer of Cobalt. "The growing demand for the Valkyrie illustrates the real desire that people have to purchase a private aircraft that's design-centric, sleek and super fast. My vision is to reinvigorate the personal aviation market, starting with the Valkyrie."

But pre-orders and flight testing do not a production airplane make. Just ask ICON.

Loury told the International Business Times that while the company has completed 85 to 90 percent of the testing required by the FAA, it has not received an airworthiness certificate. And the FAA says they have not even received an official application for the document. That means Cobalt is unable to provide even an estimated first delivery date for an airplane.

FAA regulations allow for up to three years between receiving an application for certification and the issuance of an airworthiness certificate, and that period can be extended if necessary.

But Loury told IBT that the customers are patient. He said that they understand that the small startup doesn't "have political leverage" and that most of them are already airplane owners who understand that the FAA process can be a slow grind.

According to a Cobalt news release, the Valkyrie costs $595,000 and is available for U.S. pre-order with a $15,000 deposit. The Valkyrie is targeted for availability in 2017. Additional options, including the type certification package, can be added during the pre-order process.

To ensure a handcrafted approach is taken with each and every plane, Cobalt has opened a wait list for the near-term to focus primarily on the production of all current pre-orders, the company said. A safe production ramp up, consistent exceptional craftsmanship, and conformity to FAA regulations is Cobalt's first priority to ensure the utmost satisfaction from all of its customers.

(Images provided with Cobalt news release)

FMI: www.cobalt-aircraft.com