CE media presentation

Launch of the Furio, Tuesday 12 February 2008
John Nicholson, Chief Executive, Aviation NZ.

It is great to be at Ardmore for the dawning of a new era in New Zealand aviation.

We all hear about numbers in the international aviation industry

• passenger travel is expected to increase by 5.6% per year for the next 16 years
• aircraft numbers to increase to 27,000 by 2016
• 55,000 new pilots required in the next 16 years
• Manufacturers of small planes such as Cessna, EADS and the General Aviation Manufacturers Assn in the US talk about the bullish outlook

Huge numbers, mesmerising

In comparison, New Zealand’s aviation exports are worth around $800m The New Zealand industry predicts this could increase to $2b by 2020 That sounds pretty impressive But there are grounds for confidence that this number will be exceeded, based on what has happened in aviation in the past Some firsts:

• Richard Pearse’s plane had a tricycle under carriage
• the first pilot training school was set up in New Zealand in 1916 to train pilots for what was to become the RAF
• the first ever export sale by Boeing, was to New Zealand
• New Zealanders pioneered the use of aviation in the agriculture, forestry and tourism industries
• New Zealand now has one of the highest per capita rates of aircraft ownership in the World

I could use the investor analogy – successes of the past cannot guarantee success in the future but today, we see a symbol of the future I’m sure it will be a fascinating symbol, when the veil is lifted!

That there is an Italian connection today should not be surprising:
- Italian ingenuity under the ground is evident in the hydro schemes in the central North Island
- Italian perseverance in the sea was apparent in the establishment of the commercial fishing industry especially around Wellington
- Italian creativity and the impacts of designers such as Clino Castelli and Castiglione were noticeable in some of the furniture designed in New Zealand in the mid 1990s

It was only a matter of time before the Italian connection with New Zealand would aim for the sky!

It’s a connection with some pretty interesting ingredients

Some world class composites technology was developed in New Zealand by the marine sector and the racing and superyacht industries in particular We might not currently hold the Americas Cup but its impact on the development of the composites industry in New Zealand was considerable.

Anything you see about the future of aviation, and you’ll know this better than me, is that the use of composite technology will increase dramatically The composite content of the structural weight of 737s, 747s, 757s and 767s is well under 10% and the A320 and A330 is around 15% But the new generation A380 is well above this and the 787 is around 50%.

So, a global trend towards using composites in aviation.

Mix New Zealand’s marine composite capabilities with Lapo Ancilloti and his boat building and design background
The Nustrini brothers with their architectural, IT, aviation backgrounds and aviation heritage
And
The kiwi Kevin Grant, and you have a potent mix A small but very capable team.

Collectively, as we’ll soon see, these aviation enthusiasts have designed what might best be described as an aerial sports car It seems ideally suited to the growing aviation market.

Falcomposite is the sort of high value business we are pleased to see develop in New Zealand The design and small number of components will support a lean manufacturing system when production begins And the fact that the Furio is simple to assemble should give it tremendous customer appeal.

We wish Falcomposite every success We, look forward to the new prosperity and activity you will generate.

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