Aeralis taps into mystery Middle Eastern wealth fund
Aeralis announced on 16 September that it has signed an investment agreement with an unnamed Middle Eastern sovereign wealth fund.
The UK-based aircraft designer added in a statement during DSEI 2021 that the wealth fund has invested an initial £10.5 million ($14.5 million) to ‘support the design, development and first flight’ of its Advanced Jet Trainer (AJT) platform.
Aeralis CEO Tristan Crawford hailed the deal as a ‘transformational moment’.
Shephard recently reported that Aeralis has added Atkins and Siemens Digital Industries Software to its integrated design team, with a first AJT flight planned for 2024.
Other configurations for the modular Aeralis platform will include light attack, jet training and aerobatic display.
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