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ATG can´t seek funding

ATG can´t seek funding

Aviation Technology Group has halted development of its Javelin two-seat very light jet after failing to raise $ 200 million in financing. The Denver, Colorado-based start-up company plans talks this week with strategic partner Israel Aerospace Industries.

The Denver Post reported on 17 December that ATG had sent home about 40 of its 50 employees while it made a last-ditch effort to raise funding to continue operations, after efforts by Citicorp to arrange financing were unsuccessful.

According to Flightglobal.com

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