Utilicraft Aerospace Industries, Inc. (UITA.OB) is focused on designing more cost effective aircraft that will allow airlines to move cargo through more cities, ship freight more frequently and track the movement of shipping containers more easily. The Company was formed to implement a system solution for the declining capacity in the short haul route segments of air cargo and overnight express companies.
Utilicraft has developed a new fuel efficient and cost effective air vehicle known as the FF-1080 Freight Feeder. This new aircraft is revolutionary because of its ability to carry standard industry air containers on short to medium range routes. The company has also developed the Automatic Flat Rate System (AFRS) Patent. This company owned system allows the new aircraft to operate with more fuel efficiency than any other freight feeder aircraft in the world.
In December 2007, the Company sold its Freight Feeder aircraft technology for a 25% equity position in Freight Feeder Aircraft Corporation. This sale has a potential value of approximately $400 million in future royalties and future Freight Feeder Aircraft Corporation stock value. This important sale of the aircraft technology allows Utilicraft to focus its efforts on seeking new aerospace products for development, including those related to the enhancement of the Freight Feeder aircraft.
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