InvestingProfs Highlighted Company: Utilicraft Aerospace Industries, Inc. (UITA.OB) Announces Purchase Agreement
Utilicraft Aerospace Industries announced that it has signed a $115 million aircraft purchase agreement with Mid America Aero, LLC. The purchase includes 10 FF-1080-200 aircrafts and a training and support package. The purchase agreement demonstrates the company’s commitment to eventually acquiring 35 aircrafts as previously stated in two Letters of Intent. The VP Chief Financial Officer stated, “The definitive Agreement that was executed today for ten FF-1080-200 Aircraft, calls for a series of progress payments by Mid America Aero to begin upon 'First Flight' of the FF-1080 prototype aircraft, with subsequent progress payments to follow based upon the completion of…
