New Zealand manufacturer Vickers Aircraft has issued a call for new investors as the first deliveries of the Wave LSA get closer.
CEO Paul Vickers said last Friday that the first deliveries of the amphibious Wave were expected in April 2025 after a development program spanning 14 years, but new capital was needed for the company to grow further.
"Against the backdrop of recent industry developments, including the demise of Icon and the impending FAA MOSAIC rules, the opportunities for the Wave are boundless," Vickers believes.
"At Vickers Aircraft, we are currently seeking passionate aviators to join us in realising our vision of bringing this extraordinary light amphibious aircraft to market.
"Our current open capital raise presents an opportunity for investors who recognize the potential of the Wave.
"Despite the modest amount we seek, investors have been consistently impressed by our achievements to date, for the low investment raised – establishing a full-scale production facility, perfecting a flying aircraft, and inching closer to our inaugural delivery within just 12 months."
The company last called for investment capital in 2022.
Vickers obtained an exemption from the FAA for the Wave to be manufactured under LSA rules despite having a maximum take-off weight of 839 kg, more than 200 kg above the usual LSA MTOW limit.
Testing has shown the aircraft will achieve a cruise speed of 120 KTAS and have a range of 1100 nm.
"I haven’t dedicated the past 14 years of my life to deliver a mediocre aircraft," Vickers states. "The Wave is truly spectacular, and we can deliver on everything we say, and more."
As part of gearing up to supply demand in the American market, Vickers says the company is searching for manufacturing locations within the USA to increase production.
Vickers main competitor in the amphibious LSA market, Icon Aircraft, filed for Chapter 11 bankruptcy protection early last month as it sought a new owner.