Popular private jet maker Hawker Beechcraft Corp. received certification from the Federal Aviation Administration for its newest light mid-size jet, the Hawker 750. The jet is built on the company’s venerable Hawker 800 series platform, with the same fuselage and wings as the company’s popular 800XP.

The 750 replaces one of the 800XP’s fuel tanks with an additional heated luggage compartment, bumping up baggage capacity to 79 cubic feet, 68 percent more room than on the 800XP. The lack of the extra fuel tank reduces the planes flying range somewhat, but also knocks a million dollars off the price tag when compared to a 800XP. The Hawker 750 will sell for $12.2 million.

The new jet will compete in the light mid-size jet segment against planes like Cessna’s Citation XLS and Bombardier’s Lear 45XR. With seating for eight passengers, it boasts ample cabin space for a plane in its category, with 5.7 feet of headroom and a cabin length of 21.3 feet.

The Hawker 750’s range of 2,100 nautical miles means it won’t be suitable for intercontinental flight without refueling, but it’s more than adequate for domestic trips. And its performance specs are nothing to scoff at. The 750 cruises at 514 miles per hour at 37,000 feet, besting its closest competition in the category.

The Hawker 750’s is already attracting a host of buyers. With its first deliveries expected in the coming weeks, the order backlog for the aircraft stretches well into 2010.