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 |  Apr 21 2010, 3:44 PM

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Mere months after escaping a seemingly certain death at the hands of General Motors, Saab is back, under the ownership of Dutch supercar outfit Spyker, and taking aim at rival European luxury sedans with their new 9-5 sedan.

At the outset of the 9-5′s July launch, the only trim level available will be the flagship Aero model, priced at a not-so-modest $49,990. While this may seem steep, the Aero features a 300 horsepower 2.8L twin-turbo V6, all-wheel drive and the quintessential air-conditioned gearbox. Other high tech options include a heads-up display, Harmon/Kardon stereo and a lane-departure warning system.

The 9-5 Aero will be joined later on by an entry-level model featuring a 2.0L four-cylinder turbo engine and will start at “under $40,000″ according to Saab.