Posts Tagged ‘adams aircraft’

Adam Aircraft Has a New Owner

Thursday, April 10th, 2008

AAI Acquisition Inc, a Russian owned company was approved by the bankruptcy court to purchase Adam Aircraft.  They bought the company for $10 million plus assumption of some liabilities. 

The company has already hired some of the old Adam employees and plans to work hard on getting the new VLJ A700 certified as quickly as possible.  The FAA however said since it is a new company they will have to start over in the certification process, but it will be much faster than start from the beginning.  Read more of an Article from the Denver Post.

Adam Aircraft struggling to come back to life…

Tuesday, April 8th, 2008

An agreement has been reached to have the assets of Adam Aircraft purchased by a new company and to reopen and operate it under new ownership, support the A500 inline twin engine airplane and continue the certification process of the A700 VLJ.  The proposed purchase must still be approved by the court in a hearing set for Wednesday, April 9, 2008. 

In the past many aircraft manufacturers have struggled to survive.  As Howard Hughes once said

“the only way to make a small fortune in aviation is to begin with a large fortune!” 

Mooney although plagued many times over the last 30+ years with cash flow issue has been able to find new buyers and make it through bankruptcy and stay around to support its past aircraft and excel in producing a strong product for the 21st century.  Others such as Beechcraft, Columbia Aircraft, Piper have had struggles of their own and made it through the trying economic times and years of aviation “issue”. 

Good luck to Adam Aircraft, hope they can be a success story too.

Denver Post Article