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Epic Aircraft, LLC
Company typePrivate
IndustryAerospace
Founded2004
HeadquartersBend, Oregon
Key people
Doug King (CEO 2010-present)
ProductsPrivate aircraft
Number of employees
300[1]
ParentMVF Key Investments Ltd.
Websitewww.epicaircraft.com

Epic Aircraft, LLC is a general aviation aircraft manufacturer headquartered in Bend, Oregon, and owned by the Cyprus-based[2] company MVF Key Investments Ltd.[3] The company produces the FAA certified Epic E1000 GX single engine turboprop design.

Founded in 2004, the company initially manufactured and sold kits for the Epic LT. In 2013 the company discontinued taking orders for LT kits, to concentrate on certification of the E1000, which is based upon the LT. The E1000's Federal Aviation Administration certification was completed in November 2019.[4][5]

Aircraft

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  • The LT is a 6-place kit-built turbo-prop airplane,[6] later replaced by the E1000.[7]
  • The Victory was a proposed single-engine jet project in 2007.[8]
  • The E1000 is a type certified six-place turbo-prop airplane. It is the type-certified, manufactured version of the Epic LT.[7]
  • The Escape was a proposed 92% scaled version of the Epic LT in 2007, with 4 to 6 seats.[9]
  • The Elite was a proposed twin-engine jet project, initially intended as a kit aircraft in 2008.[10]
  • The E1000 GX is a type certified single turbo-prop airplane based on the E1000. The E1000 GX replaced the E1000 as the only product Epic Aircraft is manufacturing.[11]

History

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Epic LT experimental single turboprop aircraft
Epic Victory single jet aircraft
Epic Elite twin turbojet aircraft
Epic E1000 single turboprop aircraft

2004–2009: Early years

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The company was founded in 2004 by Rick Schrameck, a veteran of the computer hardware and aviation composites industries,[12] and located in Bend, Oregon, due to public incentives which were offered, including state loans and grants of US$1.3M. In return for the grants and loans Epic promised to create 4,000 jobs.[13] Epic’s first aircraft, the LT, was positioned as a homebuilt kit aircraft, and Schrameck claimed deliveries were estimated to begin by year’s end 2005.[14] The FAA approved the LT as an amateur-built craft in 2006,[15] the same year that the first LT was delivered.[16]

On 5 June 2009 Epic was sued by Blue Sky AvGroup, an Epic customer that had an aircraft under construction at the build center, alleging that Epic had failed to meet its contractual obligations.[13][17][18][19] The case was dismissed in 2013 and ended "without an award of costs, disbursements or attorney’s fees to any party".[20]

In late June 2009 the company dramatically scaled back its operations.[21] The lay-offs primarily affected the aircraft's owner-assisted build center,[22] where customers worked on their own kits.[21] Epic was subsequently named as plaintiff in July 2009 in a lawsuit against engine maker Williams International, claiming that the engine maker defaulted on a contract to supply engines for the Epic Victory program.[17] On 8 August 2009 the company's premises were seized by the building's landlord, Delaware-registered ER1 LLC.[13]

In September 2009 CEO Schrameck was removed by the board of directors from any "managerial or supervisory capacity" with Epic parent company Aircraft Investor Resources,[23][24] and the company entered Chapter 11 bankruptcy.[25] Due to his actions at Epic, Schrameck was arrested for fraud in March 2015. On 27 March 2015, he pleaded not guilty in US District Court to eight counts of wire fraud, four counts of mail fraud and six counts of money laundering regarding his dealings with Epic and its customers. The District of Oregon alleged that Schrameck deliberately defrauded customers of more than US$14 million.[26][27] In April 2018, Schrameck pleaded "guilty" to one count of wire fraud. The Department of Justice, US Attorney's Office, District of Oregon stated, "Schrameck gave customers Airframe Purchase Agreements and Aircraft Completion Assistance Agreements that misrepresented how the customers’ funds were being used. Without his customers’ knowledge, Schrameck used the funds for other projects, to complete existing Epic LT aircraft, and to support his own lavish lifestyle."[28][29]

Epic LT owner Doug King filed a motion requesting that the bankruptcy proceedings be moved from Nevada to Bend. That filing included a sworn statement by Chief Financial Officer David Clark, saying that Epic owed its customer builders an estimated US$15 million for parts and that the company had no money to pay those debts.[30]

2010–2014: Reorganization and acquisition by Engineering LLC

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Following the bankruptcy filing, Epic went up for sale. In an auction on 26 March 2010, the state-owned China Aviation Industry General Aircraft was the highest bidder with a US$4.3 million offer, beating out a bid by the LT Builders Group, a group of seven aircraft owners with incomplete aircraft in the plant. The hearing judge admonished the LT Builders Group for their bid describing it as "pathetic, useless, incompetent, unacceptable, garbage and fiction" but gave the group another chance to improve their position and reserved his decision on the final winner of the auction until 2 April 2010.[31][32][33][34] On 2 April 2010 the judge issued a judgement ordering China Aviation Industry General Aircraft Co. Ltd. to make an agreement with the LT Builders Group to acquire Epic's assets.[35] The deal came about following public concern about why a state-owned Chinese aerospace company would take interest in Epic, although the primary theories were that the Chinese firm was interested in acquiring Epic's designs or the carbon-fiber composites used in Epic's aircraft.[36] Due to potential concerns, the final deal excluded any defense-related material potentially subject to International Traffic in Arms Regulations from the purchase.[37] The deal was completed by 11 April 2010, with the LT Builders Group taking control of the company and marketing the Epic LT to North America, while the Chinese company obtained rights to market the Epic LT to the rest of the world.[38][35]

The new company intended to reopen the Bend plant for builder-assist construction as well as pursue type certification of the Epic LT, a project which the original company owners had started, but not completed.[38][35] Doug King, CEO of the LT Builders Group,[39] became CEO of Epic as an unpaid volunteer in 2010. King, who had owned several transaction processing and computer services businesses and had revitalized operations of Syncro Aircraft,[40] had an incomplete LT in the plant and wanted to get it completed and decided to help get the company turned around and profitable, with an aim of certifying the LT design.[41] At AirVenture on 31 July 2010 King announced that the company was ready to take orders for the Epic LT kit aircraft at that time and that 11 aircraft were in plant, being completed by their owners.[42]

In November 2011, a Russian, Vladislav Filev, the owner of S7 Airlines, visited the Epic plant. An enthusiastic private pilot, he was looking for his ideal personal aircraft. King took him for a demo flight in an LT, and Filev decided to buy the company to pave the way for type certification for the LT.[41] Engineering LLC,[43] became the owner of Epic in March 2012 for US$200M and announced its certification plans for the LT design. As part of this plan the company entered into negotiations with Cessna in December 2012 to buy the former Columbia Aircraft plant that Cessna owned in Bend. The company indicated that it expected to hire 40-80 new employees in 2013 as part of the certification effort and to expand kit production.[41][44][45][46] By October 2014 the company reported that it had 60 orders for the E1000. At that time, the company forecast selling 50 aircraft per year.[47]

2015–present: E1000 era

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The company's E1000 single engine turboprop had its first flight on 19 December 2015.[48] In 2016, Epic held the "Epic Odyssey World Tour", in which six Epic LTs circumnavigated the world in 21 days, stopping in 21 cities after departing from Oshkosh, Wisconsin.[49]

Development of the E1000 towards certification continued. The design encountered a set-back in the summer of 2018 when it was discovered that it was 10 to 20 kn (19 to 37 km/h) slower than its promised cruise speed. The problem was traced to ram air recovery in the engine intake design. This design had been dictated by certification requirements and the engine manufacturer's approval, over the non-certified LT intake design. Redesign and flight testing added six months to the process.[41]

On 31 March 2019 Filev's wife, Natalia Fileva, was killed in the crash of an Epic LT on approach to the Frankfurt Egelsbach Airport. Fileva was one of the wealthiest women in Russia and co-owner of S7 Airlines, with her husband. Her father and the pilot were also killed in the crash.[50] The German Federal Bureau of Aircraft Accident Investigation found in its investigation that on approach, the plane had made a 30–45 degree left-sided bank turn.[51] Kommersant reported that the cause of the crash was pilot error, likely a pilot-induced stall.[52]

The US Federal Aviation Administration awarded the E1000 its type certification in November 2019. The certification effort had been initially estimated by King to take three years and cost US$20M, but took seven years and about US$200M. At the time of certification the company had more than 80 orders for the E1000.[41][5] After certification the company indicated that it intends to ramp up production to one aircraft every three weeks by the second half of 2020, then one aircraft every two weeks by the first half of 2021, and ultimately produce 50 aircraft per year.[41]

The company announced in May 2020 that the first two E1000s had been delivered to customers.[53] In July 2020, Epic earned FAA production certification for the E1000, allowing the company to to build, test, and approve aircraft with less FAA oversight.[54]

Also in July 2020, the E1000 won Flying magazine's 2020 Innovation Award. Flying's editor-in-chief Julie Boatman applauded Epic for beginning aircraft deliveries during the COVID-19 pandemic.[55] Plane & Pilot magazine named the E1000 its 2020 plane of the year, citing its powerful engine, range, and design.[56] That December, Epic and ATP, an aircraft software company, announced a partnership for tracking maintenance and distributing technical publications.[57][58]

In July 2021, Epic announced that its next-generation version of the E1000, the E1000 GX, had received its FAA type certificate. The E1000 GX includes integration with Garmin's GFC 700 autopilot system and a Hartzell 5-blade composite propeller.[59] By the end of July, Epic had announced an expansion to its service network with a Fort Worth-based maintenance station, bringing its service network to three facilities in the United States.[60] By Q3 of 2021, Epic had delivered six E1000 GX aircraft,[61] with another 4 delivered by the end of Q4.[62] Epic's stated goal is to complete 20 planes in 2022, and up to 40 in 2023.[3] As a part of increasing production capacity, Epic hired 175 additional staff between July and December of 2021, with many of the new staff working in composite part fabrication.[3]

References

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  1. ^ Epic Aircraft (November 6, 2019). "Epic Aircraft Achieves FAA Type Certification" (PDF). Press release. Archived from the original (PDF) on November 9, 2019. Retrieved February 26, 2020.
  2. ^ "MVF Key Investments Ltd". Dun & Bradstreet. Retrieved March 8, 2022.
  3. ^ a b c Kohn, Michael. "Bend-based Epic Aircraft flying high amid pandemic challenges". The Bulletin. Retrieved March 6, 2022.
  4. ^ "Epic E1000 Prototype Completes First Flight". AVweb. Retrieved December 25, 2015.
  5. ^ a b O'Connor, Kate (November 7, 2019). "Epic E1000 FAA Certified". AVweb. Archived from the original on November 9, 2019. Retrieved November 9, 2019.
  6. ^ Gerzanics, Mike (July 13, 2011). "FLIGHT TEST: Epic LT - Experimental Rocket". Flight Global. Archived from the original on August 7, 2020. Retrieved November 21, 2021.
  7. ^ a b O'Connor, Kate (November 7, 2019). "Epic E1000 FAA Certified". AVweb. Archived from the original on November 9, 2019. Retrieved November 9, 2019.
  8. ^ "Epic Victory Jet makes first flight". Flyer Airportal. July 10, 2007. Archived from the original on November 22, 2010. Retrieved January 11, 2022.
  9. ^ "Pictures: Epic AIR unveils two new aircraft at Sun 'n Fun show". Flight Global. April 18, 2007. Archived from the original on January 11, 2022. Retrieved January 11, 2022.
  10. ^ Decker, Jeffrey (August 18, 2008). "Epic Elite very light jet stranded in Georgia". Flight Global. Archived from the original on January 11, 2022. Retrieved January 11, 2022.
  11. ^ Mark, Rob (July 20, 2021). "Epic Aircraft's E1000 GX Earns Its FAA Type Certificate". Flying Magazine. Retrieved December 21, 2021.
  12. ^ "Turbine Pilot". www.aopa.org. May 7, 2007. Retrieved January 13, 2022.
  13. ^ a b c Moore, Andrew (August 2009). "Seizure and lawsuits cloud Epic Air's future". Archived from the original on June 5, 2011. Retrieved August 13, 2009.
  14. ^ "Epic's impressive epic — General Aviation News". generalaviationnews.com. Retrieved January 13, 2022.
  15. ^ "Epic LT Receives FAA Sign-Off As Amateur-Built Aircraft". Aero-News Network. Retrieved January 13, 2022.
  16. ^ Morris, Gregg (December 4, 2014). "Epic Aircraft in Bend, Oregon Builds Their Own". Cascade Business News. Retrieved January 13, 2022.
  17. ^ a b Niles, Russ (July 2009). "Epic "Scaled Back"". Retrieved July 7, 2009.
  18. ^ Van Hoomissen, Michael F. (June 2009). "United States District Court for the District of Oregon" (PDF). Archived from the original (PDF) on June 12, 2011. Retrieved July 9, 2009.
  19. ^ Eager, Jeffrey (July 2009). "United States District Court for the District of Oregon" (PDF). Archived from the original (PDF) on June 12, 2011. Retrieved July 9, 2009.
  20. ^ Withycombe, Claire (April 8, 2015). "Former Epic CEO pleads not guilty to federal fraud, laundering charges". The Bulletin (Bend). Retrieved February 28, 2022.
  21. ^ a b Niles, Russ (July 2009). "Epic "Scaled Back"". Retrieved 2009-07-07.
  22. ^ Di Piazza, Karen (1 September 2007). "Epic Aircraft Making Big Splash in General Aviation". Airport Journals. Retrieved 21 November 2021.
  23. ^ Sanders, Jeff (September 2009). "Epic Plans" (PDF). Archived from the original (PDF) on June 12, 2011. Retrieved September 24, 2009.
  24. ^ Bergqvist, Pia (March 8, 2012). "Russian Company Acquires Epic Aircraft". Flying. Retrieved November 8, 2021.
  25. ^ Grady, Mary (February 21, 2014). "The Return of Epic Aircraft". Robb Report. Retrieved November 8, 2021.
  26. ^ Claire Withycombe. "Former Epic CEO pleads not guilty to federal fraud, laundering charges" The Bulletin (Bend), 8 April 2015.
  27. ^ Kauh, Elaine (April 9, 2015). "Former Epic CEO Pleads Not Guilty To Fraud Charges". AVweb. Retrieved April 15, 2015.
  28. ^ O'Connor, Kate (April 26, 2018). "Former Epic Air CEO Pleads Guilty To Fraud". AVweb. Retrieved April 27, 2018.
  29. ^ Department of Justice (April 23, 2018). "Bend Man Pleads Guilty to Fraud Scheme Involving Consumer Aviation Company". www.justice.gov. Retrieved April 27, 2018.
  30. ^ Niles, Russ (September 22, 2009). "More Legal Action Against Epic". AVweb. Retrieved November 8, 2021.
  31. ^ Read, Richard (March 26, 2010). "Chinese bidder wins Bend's bankrupt Epic Air but deal still in doubt". The Oregonian. Retrieved March 27, 2010.
  32. ^ Niles, Russ (March 2010). "China's AVIC Wins Epic Auction". Retrieved March 27, 2010.
  33. ^ Grady, Mary (March 2010). "Judge Leaves Epic Air Future Unresolved". Retrieved April 1, 2010.
  34. ^ Reed, Richard (March 2010). "Portland judge gives Epic Air customers a chance in case with Chinese corporation". The Oregonian. Retrieved April 1, 2010.
  35. ^ a b c Grady, Mary (April 2010). "An Epic Deal Between Builders Group, Chinese Company". Retrieved April 12, 2010.
  36. ^ Read, Richard (March 27, 2010). "Chinese bidder wins Bend's bankrupt Epic Air but deal still in doubt". OregonLive. Retrieved January 13, 2022.
  37. ^ Thurber, Matt (April 30, 2010). "Chinese firm to buy Epic assets". Aviation International News. Retrieved January 13, 2022.
  38. ^ a b Niles, Russ (April 2010). "Judge Orders Epic Partnership". Retrieved April 5, 2010.
  39. ^ "Epic LT Kits Back in Production". Aviation International News. July 27, 2010. Retrieved November 28, 2021.
  40. ^ "Virtual Event: CEO Flies Epic Aircraft's Speed Demon Turboprop". Flying Magazine. October 28, 2021. Retrieved December 21, 2021.
  41. ^ a b c d e f George, Fred (December 2019). "Status Report: E1000 Cleared for Takeoff" (PDF). Business and Commercial Aviation. pp. 50–56. Retrieved November 28, 2021.
  42. ^ Grady, Mary (July 31, 2010). "New Epic Owners At Oshkosh". AVweb. Archived from the original on March 3, 2016. Retrieved February 15, 2020.
  43. ^ "Epic Aircraft Announces Acquisition by Engineering LLC". Epic Aircraft (Press release). March 6, 2012. Retrieved March 25, 2022.
  44. ^ Siemers, Erik (March 6, 2012). "Bend airplane-maker Epic Aircraft sold to Russian firm". Portland Business Journal. Retrieved March 6, 2012.
  45. ^ Niles, Russ (March 6, 2012). "Epic Sold To Russian Firm". AVweb. Retrieved March 7, 2012.
  46. ^ Niles, Russ (December 11, 2012). "Epic Expanding For Certification Effort". AVweb. Retrieved December 13, 2012.
  47. ^ Sarsfield, Kate (October 21, 2014), "Epic E1000 turboprop-single makes show debut", Flightglobal, Reed Business Information, retrieved October 31, 2014
  48. ^ "Epic E1000 Prototype Completes First Flight". AVweb. Retrieved December 25, 2015.
  49. ^ Elliott, Megan (July 27, 2016). "Epic Aircraft Completes Round-the-World Tour". Flying Magazine. Retrieved December 21, 2021.
  50. ^ Niles, Russ (April 1, 2019). "Wife Of Epic Owner Confirmed As Crash Victim". AVweb. Retrieved April 2, 2019.
  51. ^ "Interim Report" (PDF). German Federal Bureau of Aircraft Accident Investigation. May 2019. Retrieved December 21, 2021.
  52. ^ Машкин, Сергей (April 1, 2019). "Обломки сложились в плоский штопор". Kommersant (in Russian). Retrieved November 21, 2021.
  53. ^ Niles, Russ (June 1, 2020). "Epic Delivers First Two Certified E1000s". AVweb. Archived from the original on June 1, 2020. Retrieved June 1, 2020.
  54. ^ Goyer, Isabel (July 24, 2020). "Epic Earns FAA Production Certification for E1000". Plane & Pilot Magazine. Retrieved November 28, 2021.
  55. ^ Flying Staff (July 2, 2020). "Epic's E1000 Wins Flying's 2020 Innovation Award". Flying magazine. Archived from the original on August 4, 2020. Retrieved October 20, 2020.
  56. ^ "2020 Planes Of The Year: Epic E1000 & Pipistrel Velis". Plane & Pilot Magazine. Retrieved March 6, 2022.
  57. ^ "ATP, EPIC partnership for maintenance tracking". Wings Magazine. December 16, 2020. Retrieved December 21, 2021.
  58. ^ Boatman, Julie (December 10, 2020). "ATP Provides Epic with Flight Docs, Mx Tracking". Flying Magazine. Retrieved December 21, 2021.
  59. ^ Mark, Rob (July 20, 2021). "Epic Aircraft's E1000 GX Earns Its FAA Type Certificate". Flying Magazine. Retrieved December 21, 2021.
  60. ^ Bergqvist, Pia (July 26, 2021). "Epic Aircraft Expands Service Center Network". Flying Magazine. Retrieved December 21, 2021.
  61. ^ "General Aviation Aircraft Shipment Report: 2021 3rd Quarter" (PDF). General Aviation Manufacturers Association (Press release). November 17, 2021. Retrieved February 22, 2022.
  62. ^ "General Aviation Aircraft Shipment Report: 2021 Year End". General Aviation Manufacturers Association (Press release). February 22, 2022.
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