[1] An engine failure while flying a single-engine Stinson Voyager over the jungles of Honduras in 1958 nearly killed Spectrum CEO Linden Blue.

Since approximately 2006, the company has been involved in the development of two very light jets, the Spectrum S-33 "Independence" and the S-40 "Freedom", which are to be constructed making extensive use of composite materials.

The twin-engined single pilot aircraft are supposed to carry between five and nine passengers over distances between circa 3000 and 4000 kilometres, using about 40% less fuel than conventionally built planes.

The certification dates of both planes have been postponed on several occasions, even more so after a setback in 2006, when the company's only prototype - a S-33 - crashed, causing the death of two pilots.

In recent years Spectrum has sought finance through banks, investors and joint ventures with other aircraft manufacturers.