Honda nearing final flight tests for jets, announces financing availability

A $4.5 million HondaJet sits inside of a hangar housed within Honda Aircraft Co.'s new customer service facility, which will provide 24/7 technical support, manage warranty administration and complement the company's dealer network. Honda said American Honda Finance Corporation intends to offer financing for HondaJet customers.

by Katie Arcieri of www.bizjournals.com

Greensboro-based Honda Aircraft Co. said Monday that it has achieved several milestones in the testing and development of its $4.5 million lightweight business jet and also announced the availability of term-loan financing for the HondaJet in the United States.

Honda, a wholly-owned subsidiary of American Honda Motor Co. (NYSE: HMC, made the announcements at the 2013 National Business Aviation Association’s Business Aviation Convention and Exhibition in Las Vegas.

Testing
Honda officials said the HondaJet flight test program is nearing its final phase. When completed, it will mark a significant milestone toward obtaining Federal Aviation Administration targeted at the end of 2014. Honda plans to begin delivering the jet to customers thereafter.

Honda also said that the HondaJet program is currently undergoing FAA full-scale fatigue testing at the company's research-and-development facility at the Piedmont Triad International Airport, where the company last week celebrated the opening of its $20 million customer service center. The testing will prove the "HondaJet airframe’s fatigue strength well before the HondaJet enters service."

Production continues
Honda officials said production continues with six production HondaJets on the assembly line. The Honda Aircraft manufacturing team has "mated the first production aircraft’s wing and empennage with build activities for this HondaJet nearing completion."

“The Honda Aircraft production team is diligently preparing to ramp-up production by continuing to implement lean manufacturing techniques and investing in workforce training,” said Michimasa Fujino, president and CEO of Honda Aircraft Co “We anticipate our production work force will double as we prepare for HondaJet entry into service.”

The company has more than 850 employees working on the jet program and expects to ramp up to 1,200 in the coming years.

Financing help
Honda also said Monday that Honda Aircraft Co. and the American Honda Finance Corp. intend to offer term-loan financing for HondaJet customers in the United States. AHFC, a subsidiary of American Honda Motor Co., Inc., will provide financing and account servicing for HondaJet customers in the U.S. and collaborate with Honda Aircraft Co. to develop the systems and infrastructure to support HondaJet customers.

“We are once again challenging the industry by bringing new value to the ownership experience," Fujino said.

“Offering aircraft financing for HondaJet customers in the U.S. is a logical extension of Honda’s philosophy to provide innovative products that are backed by unsurpassed service and support.”

Source;
http://www.bizjournals.com/triad/blog/2013/10/honda-aircraft-co-says-hondajet.html?page=all