Ledyard Agrees to Purchase 200 Aircraft from Brazil’s Novaer

LEDYARD AGREES TO PURCHASE 200 NEW GENERATION AIRCRAFT FROM NOVAER S.A.

Scarsdale, New York (August 2012). Ledyard Capital Management LLC, an investment firm specializing in the Aviation and Marine Transport industries, has announced the signing of an agreement with Novaer S.A., São José dos Campos, Sao Paulo, Brazil, to purchase  200 TXC aircraft. The TXC is a new generation, four passenger general aviation single-engine aircraft. The new all-composite aircraft represents the leading edge of aeronautical design and manufacturing technologies that deliver a level of safety and performance previously unattainable. The TXC is one single aircraft design type with two versions, both based on the proof of concept aircraft, the Novaer K-51, from the world famous aircraft designer Joszéf Kovács. One version is a new military trainer for the primary and basic roles, designed with the Brazilian and other Air Forces in mind, and the other one is aimed to the General Aviation Market.

“General aviation demands a new generation of aircraft. Existing production and design concepts are outdated, ” says Patrick O’Neill, Ledyard  CEO. “The general aviation industry has seriously lagged the introduction of new manufacturing techniques and materials in stark contrast to other industries such as the  automotive sector. ” The Novaer TXC aircraft is a revolutionary step forward for general aviation. Brilliant modern design, a new level of  performance along with the latest avionics  technologies will breathe new life into the general aviation community, “long overdue,” says Mr. O’Neill. Initial production will be exclusive to Brazil, however, Ledyard and Novaer will work together to find a U.S. and European manufacturing solution. Given that the United States is the largest market for general aviation, the companies plan to develop a U.S. manufacturing facility that will start by initially completing  the final assembly process for the aircraft.

The TXC will have retractable landing gear, an optional ballistic parachute recovery system and air conditioning.  An optional pressurized cabin will also be offered. The normally aspirated and turbo charged  Lycoming AEIO-540-powered aircraft features a 9.14-meter wingspan, with 12.46 sq. meter wing area; maximum takeoff weight is 1.55 metric tons (1,550 kg), with an empty weight of 810 kg. The aircraft is designed to operate within +6 g and -3 g up to 1,140 kg of weight, and will be be limited to +4.4 g and -2.2 g above that. Maximum cruise is around 202 knots, with a stall speed of 55 knots and maximum rate of climb of 2,665 ft. per min. Unlike other recent aircraft introduced into the market in the past decade, the TXC structure is entirely made of carbon-fiber composites and the aircraft has much more stability, recovering  from unlimited spins without the need of a parachute for certification.

For more information contact:  write to Mr. Douglas Brennan, Ledyard Capital Management at douglas.brennan@ledyardcapital.com.

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