Epic Aircraft
| Company type | Private |
|---|---|
| Industry | General aviation |
| Founded | 2004 |
| Founder | Rick Schrameck |
| Headquarters | Bend, Oregon , United States |
Area served | Worldwide |
Key people | Vladislav Filev (owner) |
| Products | Epic LT (kit aircraft), Epic E1000, Epic E1000 GX (certified turboprop aircraft) |
Number of employees | 175+ (2021 increase) |
Epic Aircraft is a manufacturer in the general aviation sector based in Bend, Oregon, specializing in the production of the Epic E1000 GX, a single-engine turboprop aircraft.
Established in 2004, Epic originally marketed homebuilt kits for the Epic LT. After declaring bankruptcy in 2009, the company was acquired in 2012 by Vladislav Filev, a Russian businessperson associated with S7 Airlines. As of 2022, ownership of Epic rests with Filev and his family through MVF Key Investments Ltd., a Cyprus-registered entity.
In 2013, Epic discontinued sales of the LT kits to concentrate efforts on certifying the E1000 model, which is an evolution of the LT. The E1000 achieved FAA certification in November 2019.
Initial phase
Epic Aircraft was founded in 2004 by Rick Schrameck, an entrepreneur with backgrounds in computer hardware and aviation composite materials. The company was launched in Bend, Oregon, supported by $1.3 million in state loans and grants tied to a commitment to generate 4,000 jobs. Its first product, the Epic LT, targeted the homebuilt kit aircraft market. The LT received FAA approval as an amateur-built aircraft in 2006, with initial deliveries beginning that same year.
In June 2009, Epic became involved in litigation when client Blue Sky AvGroup filed a breach of contract suit. This case was dismissed without cost penalties in 2013. Around this period, Epic sharply reduced its operations, particularly impacting its owner-assisted build center. Additionally, Epic initiated legal action against engine supplier Williams International for contract breaches related to the Epic Victory project.
The company’s financial situation worsened when its landlord seized its facilities in August 2009. Shortly thereafter, CEO Schrameck was removed from his role by the board of Aircraft Investor Resources, Epic’s parent firm, and the company entered Chapter 11 bankruptcy protection.
Schrameck’s conduct later faced legal challenges. In March 2015, he was arrested on charges including wire fraud and money laundering connected to the misappropriation of over $14 million from customers. By April 2018, he pled guilty to one count of wire fraud; authorities noted that customer funds had been diverted to unauthorized projects and personal use.
During bankruptcy proceedings, CFO David Clark revealed that Epic owed roughly $15 million to customer builders for parts but lacked sufficient assets to cover these debts. A request was made to transfer bankruptcy jurisdiction from Nevada to Bend, underscoring the company’s financial distress at that time.
Restructuring and acquisition by Engineering LLC
Following bankruptcy, Epic was put up for auction on March 26, 2010. The highest bid came from China Aviation Industry General Aircraft (AVIC), a state-owned enterprise, offering $4.3 million—outbidding the LT Builders Group, a coalition of seven aircraft owners with unfinished planes at Epic’s facility. The judge criticized the initial LT Builders Group bid but permitted them to improve it, postponing the final ruling until April 2, 2010.
On April 2, 2010, the court mandated AVIC to negotiate with the LT Builders Group for acquisition of Epic’s assets. Public concern arose regarding AVIC’s intentions—speculated to involve access to Epic’s designs or carbon-fiber composite technology. Consequently, defense-related materials regulated under International Traffic in Arms Regulations were excluded from this transaction.
By April 11, 2010, control of Epic’s North American marketing and operations had transferred to the LT Builders Group while AVIC retained rights for marketing outside North America. The reorganized company aimed to reopen the Bend facility for builder-assist construction and pursue type certification for the Epic LT—a certification process begun but unfinished by earlier owners.
Doug King, CEO of the LT Builders Group and an entrepreneur experienced in transaction processing and computer services, assumed leadership of Epic as an unpaid volunteer CEO in 2010. King owned an incomplete Epic LT himself and sought to complete it and secure certification for the design. At AirVenture on July 31, 2010, he announced that orders were being accepted for the LT kit aircraft with eleven units currently under construction.
In November 2011, Vladislav Filev—owner of S7 Airlines and an enthusiastic private pilot—visited Epic’s facility and opted to acquire the company to advance type certification efforts for the LT model. Filev’s entity Engineering LLC purchased Epic in March 2012 for $200 million and declared plans for certification advancement.
As part of its strategic growth plan, Engineering LLC negotiated acquisition of Cessna’s former Columbia Aircraft manufacturing plant in Bend during December 2012. The company anticipated hiring between 40 and 80 employees in 2013 to support certification activities and expand kit production capacity.
By October 2014, Epic reported having secured 60 orders for its E1000 model and projected annual sales reaching fifty aircraft—indicating significant growth and influence within the turboprop market segment.
E1000 period
The initial flight of the company's E1000 single-engine turboprop took place on 19 December 2015. By mid-2018, performance testing revealed the aircraft was 10 to 20 knots slower than anticipated, a shortfall attributed to ram air recovery complications within the engine intake—a design limitation imposed by certification constraints and engine manufacturer approval. This issue caused a six-month postponement in redesign and subsequent testing.
On 31 March 2019, Natalia Fileva, co-owner of the company and a notable figure in Russian business as well as co-owner of S7 Airlines, tragically perished in an Epic LT crash along with her father and the pilot. The German Federal Bureau of Aircraft Accident Investigation concluded the accident resulted from pilot error.
In November 2019, after an extensive seven-year development process costing $200 million—significantly exceeding the initial projections of three years and $20 million—the US Federal Aviation Administration (FAA) granted type certification for the E1000. At that point, Epic had secured more than 80 orders for the aircraft.
Following certification, Epic planned to increase production rates from one aircraft every three weeks in late 2020 to a weekly output by mid-2021, aiming for an annual total of 50 units. The first two certified E1000s were delivered in May 2020. FAA production certification was granted in July 2020, enabling Epic to manufacture and certify aircraft with less direct FAA supervision.
The E1000 received Flying magazine's Innovation Award for 2020 and was named Plane & Pilot’s Plane of the Year in the same year, recognized for its robust engine performance, extended range, and advanced design. In December 2020, Epic collaborated with ATP to improve maintenance tracking systems and streamline technical publication distribution.
In July 2021, the enhanced E1000 GX earned FAA type certification; this version incorporated Garmin's GFC 700 autopilot system along with a Hartzell five-blade composite propeller. By then, Epic had expanded its US service network to three locations, including a facility in Fort Worth, Texas. Six E1000 GX aircraft had been delivered by the third quarter of 2021, with an additional four units completed by year-end. To support this expansion, Epic increased its workforce by 175 employees in late 2021.
As of 2024, Epic had delivered a total of 80 certified aircraft. In April 2025, the company unveiled the E1000 AX model featuring autoland capabilities, autothrottle functionality, and upgraded Garmin G1000 avionics systems.
Products
- The Epic LT is a six-seat turboprop kit aircraft that was later succeeded by the type-certified E1000.[1]
- The Victory represented a proposed single-engine jet initiative announced in 2007.[2]
- The E1000 is a certified six-seat turboprop model developed as the production successor to the Epic LT.[1]
- The Escape was introduced in 2007 as a concept for a scaled-down version of the Epic LT at approximately 92% size with seating for four to six occupants.[3]
- The Elite was envisioned as a twin-engine very light jet initially offered as a kit aircraft project in 2008.[4]
- The E1000 GX is currently Epic Aircraft's sole certified single-engine turboprop model, succeeding the original E1000.[5]
- ↑ 1.0 1.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedOConnor07Nov19 - ↑ "Epic Victory Jet makes first flight". Flyer Airportal. 10 July 2007. Retrieved 11 January 2022.
- ↑ "Pictures: Epic AIR unveils two new aircraft at Sun 'n Fun show". Flight Global. 18 April 2007. Retrieved 11 January 2022.
- ↑ Decker, Jeffrey (18 August 2008). "Epic Elite very light jet stranded in Georgia". Flight Global. Retrieved 11 January 2022.
- ↑ Cite error: Invalid
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