DENVER, Colo. June 2, 2020 – Bye Aerospace announced it is nearing completion of the eFlyer 2 critical design phase and that several new purchase deposits have been added to reserve future eFlyer purchase positions.

As Bye Aerospace manages its way through the challenges of the coronavirus crisis, the Company said it is making eFlyer 2 engineering progress, soon to achieve the high-level critical design phase completion. A critical design review (“CDR”) is a multi-disciplined technical review to ensure that each eFlyer 2 primary system can proceed into fabrication, demonstration and test. The CDR review also meets the FAA 14 CFR 23 Amendment 64 certification standards and performance requirements within the eFlyer 2 cost, schedule and safety criteria. A major industry and program milestone, a successful CDR is predicated upon a determination that the eFlyer 2 design is ready to achieve these goals.

“I’m grateful to our remarkable team of engineers, designated engineering representatives, our development partners and suppliers for their support in the engineering progress of eFlyer 2,” said George E. Bye, CEO of Bye Aerospace. “This important upcoming aviation industry milestone is a reflection of the team’s incredible dedication and hard work.”

In addition to approaching the engineering milestone, Bye Aerospace reported the market continues to respond to the opportunity to reserve delivery positions for the game-changing all-electric eFlyer aircraft. The Company reported an existing flight school customer based in California added a purchase deposit for one eFlyer and an agreement for another eFlyer deposit to be made later this year. A flying club also made a purchase deposit for an eFlyer 2 to add to its aircraft portfolio. In addition, a purchase deposit agreement was signed for a mix of 10 eFlyer 2’s and 10 eFlyer 4’s for a new aviation entity with exciting plans for putting eFlyers to use in industry. The new company also selected Bye Aerospace for a multi-engine requirement, reserving two units with purchase deposits of a future all-electric six to nine-seat airplane.

Bye said the benefits of electric aviation, including significantly lower operating costs, zero emissions and decreased noise, will continue to provide momentum for the industry’s future. “My sincere thanks to our customers for their commitment to the future of electric aviation beyond the near-term impact of these uncertain times,” Bye said. “We continue to look to a bright future ahead.”

Bye Aerospace reports its purchase reservation total, including the new agreements, is 330 units.

About Bye Aerospace, Inc.
Bye Aerospace is developing FAR 23-certified general aviation aircraft, starting with the eFlyer 2, for the flight training role. The eFlyer family of aircraft, featuring exemplary engineering, research, and electric aircraft solutions producing no CO2, are designed to answer compelling market needs. The company, named “2020 Small Business of the Year” by the Aurora, Colo. Chamber of Commerce and recognized as “Most Innovative” in the 2020 Made in Colorado awards sponsored by ColoradoBiz magazine, was founded by George E. Bye, who is also Chairman and CEO.

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Artist renderings of Bye Aerospace’s eFlyer 2 production aircraft.