Challenges faced by Piper Jet in the very light business jet market

The Piper PA-47 PiperJet was once an ambitious project by Piper Aircraft, an established name in the field of light aircraft. Piper aimed to enter the market of very light jets, which saw a significant rise in the early 21st century. The PiperJet project was introduced in the mid-2000s to carve out a share in this lucrative market.

The PiperJet stands out for its unique single-engine, placed on the vertical stabilizer, unlike its twin-engine competitors such as the Cessna Citation Mustang and Eclipse 500. Piper's decision to use a single engine aimed to reduce maintenance and fuel costs, explaining that, "the idea was to halve the engines and halve the maintenance and fuel costs."

The new design attracted around 180 pre-orders, priced initially at approximately $2.2 million per unit. However, the PiperJet program's trajectory changed when Piper Aircraft was acquired by the Sultan of Brunei, prompting a rebranding to Piper Altaire. Despite retaining the single engine concept, the Altaire included a larger cabin.