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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