Headlines > News > Aera Space hit a few roadblocks

Aera Space hit a few roadblocks

Published by Sigurd De Keyser on Sat Nov 12, 2005 2:28 am
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By Alan Boyle MSNBC.com: Space dreams deferred: Eight months ago, Aera Corp. set an ambitious schedule to start sending customers on suborbital space trips by the end of 2006. Since then, however, the company “hit a few roadblocks here and there,” the founder now says.

“We’ve drawn back and reorganized,” said Bill Sprague, president, chief executive officer and chief scientist at California-based Sprague Astronautics. What used to be known as Aera Corp. is now under the umbrella of Sprague Astronautics and Aera Space Tours, a subsidiary that will be handling the tourism side of the operation, he said.

Sprague is as much in charge as ever, but there have been some shuffles in other areas of the organizational chart, he said. Lewis Reynolds, who had been Aera’s president and chief operating officer, has left the venture. But Sprague said other seasoned hands have come aboard, including Thomas Bressan, a corporate finance executive who is now Sprague’s executive vice president and COO.

Additions to the board of directors include Douglas Pewitt, who has had wide experience at federal agencies as well as high-tech companies; and venture capitalist Randell Young, chairman and chief executive officer of NETunes.

Read more at MSNBC.com

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