It’s not all bad news out there on the business front.

Over this past holiday weekend, Cirrus Design Corporation successfully completed the first 45-minute flight of the company’s innovative "The-Jet" (H/T James Fallows), which is a five-plus-two seat aircraft that many in the aviation industry believe is destined to ignite a revolution in general aviation. Aimed at the market of owner-pilots, The-Jet is simple to fly and includes an efficient single-jet operation in an aircraft that is more flexible than larger and far more expensive aircraft. AVWeb has more pictures of The-Jet’s first flight here.

Ready to hail that air taxi yet?