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Supersonic entrant Aerion has collapsed after the company has been unable to secure additional funds to continue its development of its AS2 business jet, according to strategic partner Boeing.
In a statement to The Air Current late Friday, Aerion spokesman Matthew Clarke said “in the current financial environment, it has proven hugely challenging to close on the scheduled and necessary large new capital requirements to finalize the transition of the AS2 into production. Given these conditions the Aerion Corporation is now taking the appropriate steps in consideration of this ongoing financial environment.”
While Aerion’s “appropriate steps” lack specificity, Boeing also confirmed Aerion was not continuing on with its plans to fly the eight to 10-passenger AS2 in 2025, a spokesman for the aerospace giant said in a statement to TAC. “While we are disappointed Aerion could not secure additional funding to continue their work, we remain committed to working with innovative and creative partners who, like Aerion, continue to push limits on groundbreaking technology.”
Related: Boeing, Spirit disband engineering teams designing Aerion supersonic business jet
The collapse of Aerion and its effort to design the first supersonic business jet, the eight to 10-passenger Mach 1.4 capable AS2, underscores the biggest challenges that have continued to face new entrants. First, access to ample funds from patient investors that appreciate the time frame for cultivating a new aircraft company, second, enough staff and expertise to integrate suppliers, and third, strategic partners willing to ride through the storms that are a hallmark of the aerospace business.
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