Meridian Production Takes Priority

With FAA certification, New Piper's Malibu Meridian turboprop has taken precedence over the piston Malibu Mirage on the company's Vero Beach, FL production line.

New Piper built 66 Mirages in 2000, but suspended production in August to put manufacturing muscle behind the Meridian program. The company claims 135 wholesale orders, and plans to deliver more than 100 Meridians in 2001.

"We met our performance and design goals and achieved basic certification within weeks of our original goal," said New Piper president and CEO Charles Suma.

Piper did, however defer known-icing certification in a time-saving bid, but Suma hopes to achieve this milestone before the end of the year. "Our goal is to just be able to remove the placard and tear a sheet out of the operating manual," he says.

Mirage production will resume in July 2001 Mirage will have a less elaborate Meggitt avionics suite based on the Meridian's installation. A current production Mirage is on display at the NBAA show.

Suma says Piper now is exploring its next generation of aircraft, and the first is likely to fill a niche between the Seneca piston twin and the Mirage.

The Piper boss hasn't ruled out turbine or even diesel power, but this aircraft is more likely to use an advanced-technology, piston-powered configuration with FADEC.

Ultimately the entire Piper line, even entry-level piston singles, will feature this type of powerplant, Suma says, along with "aerodynamic refinements and cutting edge avionics."

Revenue projections for 2000 are forecast to be in the $200 million range with sale of more than 430 new aircraft. Piper's 2001 projection indicates revenues of more than $300 million on sales of 530 new aircraft.

Suma says an initial public stock offering is unlikely given the state of that market, and that his company is looking at "alternative ways" to raise capital. "The people in Vero Beach feel pretty good right now, but the hard work has just begun," Suma says.