Utilicraft Aerospace Industries is a company created in December 2004 by a spin-off of American Utilicraft Corporation as they moved their headquarters to Albuquerque, New Mexico

Albuquerque, New Mexico

Albuquerque is the largest city in the state of New Mexico, United States. It is the county seat of Bernalillo County and is situated in the central part of the state, straddling the Rio Grande. The city population was 545,852 as of the 2010 Census and ranks as the 32nd-largest city in the U.S. As...

. Their sole project was the model FF-1080-300ER, a short-haul cargo (freight feeder) aircraft for shipping and courier services. As a startup company

Startup company

A startup company or startup is a company with a limited operating history. These companies, generally newly created, are in a phase of development and research for markets...

, they advertise minimalist engineering to reduce time to market

Time to market

In commerce, time to market is the length of time it takes from a product being conceived until its being available for sale. TTM is important in industries where products are outmoded quickly...

, forgoing cabin pressurization and a retractable landing gear

Landing Gear

Landing Gear is Devin the Dude's fifth studio album. It was released on October 7, 2008. It was his first studio album since signing with the label Razor & Tie. It features a high-profile guest appearance from Snoop Dogg. As of October 30, 2008, the album has sold 18,906 copies.-Track...

 yet lifting a 10-ton

Ton

The ton is a unit of measure. It has a long history and has acquired a number of meanings and uses over the years. It is used principally as a unit of weight, and as a unit of volume. It can also be used as a measure of energy, for truck classification, or as a colloquial term.It is derived from...

 cargo pallet.

Announced customers have included Benin Airlines, Afra Airlines

Afra Airlines

Afra Airlines was an airline established in Accra in Ghana in 2003. It was formed as a new consumer airline to be focused on providing efficient, low-cost air services to and from destinations within Ghana, Africa, Europe and North America.-Code data:...

, and Mid America Aero, LLC. companies.

Production was scheduled to begin at about 24 planes per year beginning in late 2007. Until FAA certification of their first model, which would take some years, they intended to rely on the International freight feeder market.

Utilicraft generated initial capital with an IPO, so their survival depends on the stock market

Stock market

A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...

 and their investor relations

Investor relations

Investor Relations is a strategic management responsibility that integrates finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial community, and other constituencies, which ultimately contributes to a...

. Their stock began 2007 at $1.00 per share and fell to $0.06 by the end of the year. It has not traded over ten cents since.

In 2007, the Company sold its freight aircraft development program for a major equity interest in Freight Feeder Aircraft Corporation www.freightfeeder.com, plus a royalty on 2,000 aircraft. Freight Feeder Aircraft Corporation is continuing the development of the aircraft program.

Utilicraft is now seeking new products via mergers and acquisitions.