The light-sport aircraft, as it’s classified, is a two-seater with wings that fold out for flight. It’s expected to sell for $279,000, the company says, and could be a available within a year.
Terrafugia, an aerospace company (translation from the Latin: “escape the earth”) founded by pilots and and engineers from MIT, said this week the aircraft/vehicle has completed its first flight. (Watch the video below.)
The Transition could reduce the rush-hour from Avon to downtown Hartford, but what about insurance? Scott Simmonds, an insurance consultant, told SmartMoney annual premiums could cost as much as $60,000.
“It’s the flying aspect of the car,” Simmonds told SmartMoney. “That’s the exposure with hair on it.”