Glasair I, II and III assets were purchased by Advanced Aero Components in September, 2017. The Glasair III is an all-composite cantilever low-wing monoplane. It is an improved variant of the earlier Glasair II with a retractable landing gear and powered by a 300 hp (224 kW) Lycoming IO-540-K1H5 engine. It has two seats side-by-side with dual controls, the aircraft can be fitted with wing tip fuel tanks. Since the purchase of Glasair I, II, and III aircraft by Advanced Aero Components in September, 2017, the Glasair II and III airframes have been substantially upgraded and are to be reproduced in all carbon fibre construction. First kits are due to be released by July 2018.