Noble's F1 Billed as 'Hub-Buster,' Allowing Web-Based Air Taxi Fleet

"The money just keeps on rolling in. We've really unleashed something here," says Richard Noble, pointing to the $32,000 a day that's pouring in from shareholders investing in the F.1 single turboprop business aircraft. Shares are being sold via the Internet at about $2.80, but to buy them you must be a member of the "Farnborough Air Force" F.1 supporters club. If, as expected, Farnborough Aircraft.com is floated on the London Stock Exchange in 2004/5, the company is then expected to be valued at £350 million, and each of those eagerly snapped-up shares could the be worth around $64 in 2000 money.

Aircraft cross oceans and traverse the globe to appear at Farnborough International, but the prize for the shortest distance traveled this year goes to Farnborough Aircraft.com's full-size mockup of its forthcoming F.1 turboprop single-it journeyed all of 300 yards to make its international debut in the static park.

The F.1 is the brainchild of company CEO Richard Noble, OBE, best known for his Thrust 2 and Thrust SSC world land speed record-breaking cars. Noble sees the six-seat, all-composite, PT6A-60A-powered aircraft serving as a "hub-buster."

The F.1, he believes, will be the keystone of an Internet-based, high-utilization, on-demand air taxi service which would open up an estimated 7,800 under-used airfields around Europe and North America. GPS approaches will enable these airfields to be used in instrument conditions without the need for expensive ground installations, Noble says.
He points to research showing that most scheduled airliners typically achieve an average block speed of less than 300 knots over a 1,000 mile sector. He believes the F.1 can match these speeds and bypass problems at major airports by using fields not accessible to business jets or even turbine twins.
Projected performance for the F.1 includes a gross weight take-off distance of 1,528 feet, followed by a 17 climb-out to reach FL250 in eight minutes; a 35,000 ft service ceiling, and long-range cruise at 242 kts TAS.

Work on the first of three prototypes will start here in September with production of the first plug for the composite fuselage. First F.1 flight is scheduled for 2002, with JAR/FAR 23 certification in 2003 and first deliveries in 2004, by which time Noble expects to have raised the estimated $40 million cost of the development and certification program.
The plan is for all F.1 composite work, fabrication and assembly to be carried out by Farnborough Aircraft.com. Soon after the prototypes have flown the company will need to fund a dedicated volume manufacturing plant in the UK which will serve as a master for subsequent licensed manufacturing plants elsewhere. Noble said he had already received two applications for license production, from the U.S. and Canada.

"We aim to crank up volume production quickly so that we can meet demand. Most of our competitors are still virtually building aircraft by hand," said Noble.
The F.1 is expected to sell for around $2 million, fully outfitted and IFR-equipped. Based on expected annual utilization of around 1,000 hours, Farnborough Aircraft.com predicts an hourly operating cost of $593 with two crew, operating in European airspace, against $408 in the U.S., where the aircraft could be flown by a single pilot. With four passengers, per-mile cost is estimated at 43 cents in Europe and 30 cents in the USA.

"We haven't even looked for orders yet," said Noble, "but we have been approached by a number of people who are considering buying. Orders are not our priority at the moment. We've got to get on and get the airplane advanced. There will not be any sales announcements here during the show. We've got a small marketing department, but no real sales arm yet. It is too early."

By Mike Vines

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