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Pegasus partners with Ranger Aerospace to manufacture Pressure Jet Rotorcraft

Oct. 7, 2008 - Pegasus is pleased to announce that it has signed an exclusive four-year manufacturing agreement with Ranger Aerospace and Aeronautics, Inc.


October 7, 2008
By Administrator

Oct. 7, 2008 – Pegasus is pleased to announce that it has signed an exclusive four-year manufacturing agreement with Ranger Aerospace and Aeronautics, Inc. (“Ranger”), the aviation management company currently specialising in operations in the rotorcraft services industry. 
 
Under the terms of the agreement, Pegasus has designated Ranger as its exclusive manufacturer for the completion of two passenger helicopters and packaging/ assembling of kits for the two passenger helicopters.  Pegasus’s manufacturing operation will be co-located with Ranger’s Texas Aviation Services, Inc. and Integrated Flight Systems operations.  Work is now underway by Pegasus to develop and market kit and certified two and four-seat versions of the helicopter.
 
Robert Zummo, CEO of Pegasus, commented:
"This marks a significant step forward in bringing our revolutionary rotorcraft to market.  We are delighted and proud to partner with an industry leader like Ranger.  Ranger’s track record of success speaks volumes about where this programme is going.  Together we can bring to the rotorcraft industry what Pegasus believes to be the safest, simplest and least expensive helicopter in the world.”
 
Pegasus’s management team includes Chuck Vehlow, a former executive at both McDonnell Douglas Corporation and the Boeing Helicopter Division, and Andy Logan, a former Boeing executive, who sits on the Pegasus Advisory Board. 
 
Steve Townes, CEO of Ranger Aerospace and Aeronautics Inc., added:
“We look forward to working with Pegasus to bring this exciting technology and product to market.  The Pegasus team has revived proven products from predecessors and now with new technology power plants and flight systems, they can bring this innovative airborne vehicle to market.  We are happy to help them.  This could be a game-changer.”
 
Ranger will novate this commercial work to its Platinum Aviation Group, Inc. subsidiary at Meacham Airfield in Fort Worth, Texas.  Ranger’s engineering business unit will also provide support as needed.
 
This agreement follows on from the Company’s signing of several letters of intent which cover distribution of the PH200PJ Helicopter in Brazil, Russia, the Commonwealth of Independent States and China.


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