Aviation Technology Group halts work

Aviation Technology Group, developer of the Javelin high performance light jet, has issued a statement that work will cease because adequate funding cannot be secured.

Aviation Technology Group (ATG, Englewood, Colo.) with the help from a Wall Street banking institution, has been seeking funding to continue its Javelin high performance business jet and military trainer for the past 12 months. Due to circumstances beyond ATG’s control, it is unlikely that adequate funding can be secured in a timely manner. ATG has therefore decided to halt development of the Javelin at this time. Further action will be decided upon after proper communication with the company’s strategic business partner.