Aviation Technology Group

Aviation Technology Group (ATG) was an American aerospace company established in June 2000 by George Bye. The company pursued the development of the ATG Javelin, a two-seat very light jet intended to combine jet performance with a comparatively small airframe and operating footprint. The Javelin was the company’s central and effectively sole known product program, and ATG’s corporate development was closely tied to its ability to finance, certify, manufacture, and market that aircraft. ATG was based at Centennial Airport in Colorado, while its manufacturing and test activities were conducted at Front Range Airport in neighboring Aurora. In 2005, the company reported that it had signed leases for two buildings at Front Range Airport. The facilities were described as interim premises pending the construction of permanent production facilities that ATG had planned for 2009. Together, the leased buildings provided approximately 56,000 square feet of space. One building measured about 21,600 square feet and was used by ATG Flight Operations for the manufacture of four Federal Aviation Administration-conforming Javelin aircraft and as the headquarters for test activities. The adjacent approximately 34,400-square-foot building was intended for the assembly of production aircraft. ATG’s plans reflected the ambitions of the early-2000s very-light-jet market. The company anticipated eventually producing as many as ten aircraft at a time in the leased assembly facility and expected that full operation of the site could require as many as 150 additional employees. Demand for the Javelin was reported to be substantial by late 2007, when 153 positions were said to be on a waiting list. These indicators showed interest in the aircraft concept, but they did not resolve the substantial financial and regulatory requirements associated with bringing a new jet into series production. The company’s development effort encountered a decisive financing shortfall. In December 2007, ATG halted further Javelin development after it was unable to secure the reported $200 million needed to continue the program. On December 17, 2007, it stopped development operations and reduced its workforce by approximately 80 percent. The company subsequently filed for Chapter 7 bankruptcy on May 27, 2008. The bankruptcy ended development of the Javelin, and ATG then ceased operating. ATG is therefore best understood as a defunct aerospace start-up whose brand identity was built around an uncompleted very-light-jet program. Its history illustrates the capital intensity of aircraft development: facilities, conforming prototypes, prospective production capacity, and customer interest were not sufficient to sustain the program without the financing required for continued development and certification. No continuing parent company, active product portfolio, public listing, or current operating business is identified in the available reference material.

Aviation Technology Group was founded in June 2000 by George Bye as an American aerospace venture focused on the development of the ATG Javelin very light jet. The company’s business model centered on creating a new aircraft rather than operating an established aircraft-manufacturing portfolio. As a result, its corporate prospects depended heavily on the Javelin’s engineering progress, regulatory path, financing, and eventual transition to production. ATG established its headquarters at Centennial Airport in Colorado. Its manufacturing and development infrastructure was located at Front Range Airport in Aurora, in the same state, while the nearby Englewood postal designation was used for the company’s mailing address. In August 2005, Chief Financial Officer Will Schippers reported that ATG had signed leases for two buildings at Front Range Airport. The leased premises were intended to serve as interim facilities while the company planned permanent production facilities for 2009. The two buildings together covered approximately 56,000 square feet. A 21,600-square-foot facility supported ATG Flight Operations, the manufacture of four FAA-conforming Javelin aircraft, and test-program headquarters. A second building of approximately 34,400 square feet was allocated to the assembly of production aircraft. ATG estimated that the assembly facility could handle up to ten aircraft at a time and projected that as many as 150 new employees might be needed once the site reached full capacity. These plans indicated that the company was preparing for a possible move from development and conformity aircraft toward serial production. The Javelin attracted prospective customer interest. By November 5, 2007, 153 people were reportedly on a waiting list for the aircraft. However, a customer queue did not eliminate the large capital requirements of developing, certifying, and producing a new jet. In December 2007, ATG halted all further Javelin development after it failed to secure $200 million in financing for the next stage of the program. On December 17, the company stopped development operations and laid off approximately 80 percent of its workforce. ATG’s financial position did not recover. On May 27, 2008, the company filed for Chapter 7 bankruptcy. The filing ended development of the Javelin, and the company subsequently ceased to operate. The available account does not identify a completed production aircraft, a successor operating company, a parent group, or an active continuation of the ATG brand. Its historical significance is consequently tied to the Javelin program and to the challenges faced by aerospace start-ups attempting to finance a new aircraft through development and certification.

1. 2008Chapter 7 bankruptcy and closure

   ATG filed for Chapter 7 bankruptcy on May 27, ending Javelin development and leading to the company’s cessation of operations.

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2. 2007Javelin development suspended

   After failing to secure the reported financing required for continued development, ATG halted the Javelin program and reduced its workforce by about 80 percent in December.

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3. 2005Front Range Airport facilities leased

   ATG signed leases for two buildings at Front Range Airport to support flight operations, conforming-aircraft manufacture, testing, and planned production assembly.

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4. 2000Company founded

   George Bye founded Aviation Technology Group in June as an American aerospace company focused on aircraft development.

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Aerospace start-up focused on developing and potentially manufacturing the ATG Javelin very light jet.

• ATG JavelinVery light jet

  The ATG Javelin was Aviation Technology Group’s principal aircraft program. It was conceived as a two-seat very light jet and progressed to the manufacture of four FAA-conforming aircraft for flight operations and testing. ATG planned to move from development activities into production assembly at its Front Range Airport facilities, where the company anticipated handling multiple aircraft concurrently. The program was never brought to completed production in the available account. Development stopped in December 2007 after ATG failed to obtain the financing needed to continue, and the company’s 2008 Chapter 7 bankruptcy ended the project.

• 2008File for Chapter 7 bankruptcyOther

  The company had halted development and substantially reduced its workforce after failing to obtain continued financing for the Javelin.

  What changed. ATG filed for Chapter 7 bankruptcy on May 27.

  Aftermath. The filing ended development of the Javelin and was followed by the company’s cessation of operations.

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• 2007Suspend Javelin development and reduce workforceStrategy

  ATG was unable to secure the reported $200 million required to finance further development of its very light jet program.

  What changed. In December, the company halted further Javelin development, stopped development operations on December 17, and laid off approximately 80 percent of its employees.

  Aftermath. The Javelin program did not resume, and ATG filed for Chapter 7 bankruptcy the following year.

  Required development financing. (2007)

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• 2008Aviation Technology Group files for Chapter 7 bankruptcy

  ATG filed for Chapter 7 bankruptcy, ending development of the Javelin and bringing the company’s operations to an end.

  Bankruptcy
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• 2007ATG halts Javelin development after financing shortfall

  ATG stopped further Javelin development after failing to obtain the reported $200 million required to continue the program and sharply reduced its workforce.

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• 2005ATG signs leases for Front Range Airport facilities

  The company reported contracts to lease two buildings at Front Range Airport for aircraft manufacturing, testing, flight operations, and production assembly.

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1. Aviation Technology Group