Another Economic Casualty Surfaces

Honda Aircraft is updating their HondaJet aviation program in light of the effect economic conditions have had on the industry.

Due to 'delays' in delivering some critical components to Honda for conforming aircraft production, the company has revised the first flight target for a conforming aircraft to January 2010. As a result, the first customer delivery, originally scheduled for late 2010, is now projected in the fourth quarter of 2011 -- following the completion of FAA flight-testing certification.

"We have been working very closely with our suppliers over the past year in an effort to minimize the effect of the ongoing worldwide economic instability on HondaJet development," said Michimasa Fujino, Honda Aircraft Company president and CEO. "Unfortunately, we now have no choice but to revise our schedule. We appreciate our customers' continued trust and their understanding of the challenges we are facing to bring to them the most advanced light jet available."

Honda Aircraft Company has progressed with the establishment of its new state-of-the-art world headquarters campus in Greensboro, North Carolina, where the HondaJet is being developed and will be manufactured. The campus complex includes a world headquarters building that incorporates all engineering, sales, support, marketing, and administration functions. The recently completed world R&D center on campus features over four acres under roof and houses the ongoing construction of conforming aircraft. The R&D facility also houses the world delivery center for all HondaJet aircraft.

At $3.9 million, the HondaJet's unique feature set and performance suite has earned a number of fans and a solid order book. "We are confident we will deliver to our customers the best-performing and best-valued light jet in the industry," added Fujino. Ground will be broken this summer on the final phase of campus infrastructure development with construction of the HondaJet production facility. With the completion of the HondaJet production facility, the company's total world headquarters complex will reach 500,000 square ft under roof on the 83-acre campus.

"We are moving forward confidently with the HondaJet program with the full backing and strength of our parent, Honda Motor Company. Our production facility will incorporate not only production functions, but also world-class flight training facilities. We will deliver to our customers an aircraft of outstanding quality that will be supported with exceptional sales, service and flight training programs," said Fujino.

Honda Aircraft Company, Inc., a wholly owned subsidiary of Honda Motor Company, Ltd., began sales of the advanced and innovative HondaJet in October 2006 in the US and has amassed well over 100 orders for the aircraft. The $3.9 million HondaJet is Honda's first-ever commercial aircraft. The HondaJet proof-of-concept aircraft has accumulated more than 425 flight test hours and attained a top speed of 420 knots and a maximum altitude of 43,000 ft. in flight testing.

FMI: www.hondajet.com