The aircraft was designed by Bill Izard, Peter Bull and Auckland University.
The parts will be made in Hamilton or Te Awamutu and final assembly done in Asia.
Izard, who owns the brand and design of the aircraft, said Omega Aircraft would be one of the first companies to use new
generation manufacturing and research based computer tools.
"We could produce up to six a month after the prototype has been completed and we could also sell the Omega in kitset form."
The aircraft suited aero clubs, microlight and leisure pilots and would work as a trainer plane for pilots seeking a commercial
licence, Izard said.
"It is easy to make and to produce parts. An easing of aviation manufacturing restrictions provides an opening in aviation industry which wasn't previously there."
Izard said the Omega will cost $100,000 plus GST, ready to fly.
"We are now seeking investors or partners to turn this aircraft into reality and back the Omega company." The Omega is a low wing aluminium plane with a proven diesel Gemini engine producing 100 horse power. It sits two people side by side.
Izard is the son of Richard Izard a local industrialist who founded Alpha Aviation in late 2004 to exploit a gap in the world
market for two-seater "entry-level" planes for training pilots.
Inventis, then Gregory Australia, bought Alpha in August 2006 for $A11 million ($NZ12.63 million) .
The company went into liquidation earlier this year.
Alpha was a key part of a cluster of aviation companies in Hamilton which also included Pacific Aerospace and CTC.
