Grob Aerospace unexpectedly filed for insolvency on Tuesday after its lead lender pulled out. In a statement CEO Niall Olver said he hopes the situation is temporary as the company scrambles to find new money to finish certification of its SPn business jet. "I am sure that 37 years of pioneering composite aircraft manufacturing will survive," Olver said. "The company spirit, the support we have received from employees, suppliers, customers, fellow stakeholders and the media demonstrates a significant interest in Grob remaining in business as a civil and military training aircraft manufacturer." The decision by the unidentified lender came 10 days after the first flight of the fourth certification test aircraft and, according to Olver, was motivated by increasing cash demands caused by delays in the certification program. Bombardier Aerospace says it doesn't expect the news to affect development of the Lear 85 business jet, in which Grob is playing a major role.
12 Seats | 4600 Mile range | Speed: M1.6 | Alt. 40-60,000 feet | Est. $80M
Supersonic Business Jets (SSBJs) are small private jets, intended to travel at speeds above Mach 1. SSBJs are about the same size as traditional subsonic business jets. In a hurry? New York to Los Angeles 2 hours New York to London 3 hours Seattle to Tokyo 4 hours
Jetliners
Private Jet Airliners
Various seating configurations | 4000 - 6000 Mile range | Est. $40M to $60M
The most exclusive type of private jet is the Ultra Heavy jet type, which are especially designed for the ultimate in large capacity luxury air travel. The Boeing Business Jet is based on the Boeing 737 commercial jet aircraft family. The Airbus Corporate Jetliner is based on the commercial Airbus 320 jet aircraft family. Embraer’s Lineage 1000 is based on the Embraer 170 commercial jet aircraft.
Heavy Jets
Heavy Private Jets
12-20 Seats | 3000 - 6500 Mile range | $25M- $45M
With impressive cruising speed and cabin space, heavy jets embody optimum performance in every aspect. The largest size private jet charter that doesn't require a major airport runway, while still covering long distances. Typical capacity to hold 9-15 passengers, average cruising speed of 500-560 mph and average non-stop range of 4,000 miles.
Midsize Jets
Midsize Private Jets
8-12 Seats | 2500 - 4000 Mile range | $14M - $28M
Midsize jets provide extremely versatile business transport. With the comfort of the larger aircraft and agility of smaller models, the medium jet offers a best-in-class flying experience.
A sleek entrance into the private jet class, light jets feature pressurized cabins and coast-to coast range capability. Light Private Jets offer a smooth ride and an economical choice for of aircraft, for short to mid-range trips.
VLJs
Very Light Jets (VLJs)
4 -6 Seats | 1000 - 1300 Miles range | $1.2M- $4MA very light jet is also known as VLJ. With a maximum take-off weight of under 10,000 pounds (4,540 kg), they are among the lightest of business jets.
PLJs
Personal Light Jets
4-8 Seats | 1000 - 1300 Mile range | $1M- $2.5M
Private Light Jets are also called PLJs. They are single engine jet aircraft and offer the least expensive entry into private jet ownership.
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The most exclusive type of private jet is the Ultra Heavy jet type, which are especially designed for the ultimate in large capacity luxury air travel. The Boeing Business Jet is based on the Boeing 737 commercial jet aircraft family. The Airbus Corporate Jetliner is based on the commercial Airbus 320 jet aircraft family. Embraer’s Lineage 1000 is based on the Embraer 170 commercial jet aircraft.
With impressive cruising speed and cabin space, heavy jets embody optimum performance in every aspect. The largest size private jet charter that doesn't require a major airport runway, while still covering long distances. Typical capacity to hold 9-15 passengers, average cruising speed of 500-560 mph and average non-stop range of 4,000 miles.
Midsize jets provide extremely versatile business transport. With the comfort of the larger aircraft and agility of smaller models, the medium jet offers a best-in-class flying experience.
A sleek entrance into the private jet class, light jets feature pressurized cabins and coast-to coast range capability. Light Private Jets offer a smooth ride and an economical choice for of aircraft, for short to mid-range trips.
A very light jet is also known as VLJ. With a maximum take-off weight of under 10,000 pounds (4,540 kg), they are among the lightest of business jets. 
Private Light Jets are also called PLJs. They are single engine jet aircraft and offer the least expensive entry into private jet ownership.
