Cirrus Aircraft receives financing to complete Vision personal jet

Cirrus Aircraft announced today that its Cirrus Vision SF50 single-engine personal jet is now fully funded through certification and initial production.

The Duluth, Minn.-based company now expects customer deliveries to begin in 2015.

Cirrus Aircraft owner CAIGA has made a major investment in the program.

The company will accelerate hiring of engineers, designers and other related technical disciplines critical to the program’s completion, the company said.

The first flight of the Vision concept plane took place in 2008. Detail design, systems verification and full flight envelope testing have been ongoing since then.

The new investment significantly increases the pace and momentum of the program and allows the company to bring the jet to market, Cirrus said.

The jet’s list price is $1.72 million, but will increase to $1.96 million July 1.