Adam Air

April 30, 2009 - 12:15pm

AAI Acquisition, the company formed to buy the assets of bankrupt Adam Aircraft Industries, is closing its doors at Centennial Airport in Englewood, Colo. “It’s come to a very quiet and sad ending,” said Robert Olislagers, airport director of Centennial Airport, where Adam Aircraft certified and produced the composite A500 piston twin and tried to certify the A700 very light jet.

July 29, 2008 - 11:40am

AAI Acquisition, which bought the assets of Adam Aircraft Industries for $10 million after Adam filed for bankruptcy in February, is ramping up the certification program for the A700 very light jet. The company has hired 125 employees, mostly engineers, and is working toward A700 certification late next year or in early 2010.

July 7, 2008 - 6:35am

In 1998, entrepreneur George Frederick “Rick” Adam and attorney John Knudsen began a journey that few dare to try and even fewer succeed at, launching a new aircraft manufacturing company from scratch and without having previously worked in the aviation manufacturing industry.

April 28, 2008 - 7:01am

Now that AAI Acquisition has purchased the assets of bankrupt Adam Aircraft, the number-two priority is to finish the FAA certification process for the A700 very light jet, according to Jan D’Angelo, the former director of international and fleet sales for the aircraft manufacturer. D’Angelo is part of a group of former Adam Aircraft employees that joined with Russia’s Industrial Investors to form AAI Acquisition and buy Adam Aircraft.

February 26, 2008 - 5:36am

At a time when business jet deliveries are setting record highs (see page 3), Adam Aircraft, an Englewood, Colo. piston twin and very light jet developer, has ceased operations. Adam Aircraft is the second of the modern crop of very light jet manufacturers to shut down (Aviation Technology Group was the first), hobbled by a lack of funding at a critical time in development of the all-composite A700 twinjet.

February 26, 2008 - 5:36am

At a time when business jet deliveries are setting record highs (see page 3), Adam Aircraft, an Englewood, Colo. piston twin and very light jet developer, has ceased operations. Adam Aircraft is the second of the modern crop of very light jet manufacturers to shut down (Aviation Technology Group was the first), hobbled by a lack of funding at a critical time in development of the all-composite A700 twinjet.

February 7, 2008 - 10:14am

Englewood, Colo.-based Adam Aircraft isn’t yet saying whether it met a “self imposed” deadline of January 31 to raise $30.5 million in short-term funding. On January 15, Adam Aircraft CEO John Wolf sent a letter to investors warning that the private company could liquidate some shareholder assets if the short-term financing round failed.

February 7, 2008 - 10:14am

Englewood, Colo.-based Adam Aircraft isn’t yet saying whether it met a “self imposed” deadline of January 31 to raise $30.5 million in short-term funding. On January 15, Adam Aircraft CEO John Wolf sent a letter to investors warning that the private company could liquidate some shareholder assets if the short-term financing round failed.

February 5, 2008 - 11:37am

Very light jet developer Adam Aircraft has laid off 300 employees and temporarily suspended operations at its satellite facility in Ogden, Utah. “To provide for our future growth,” said Adam Aircraft president Duncan Koerbel, “we must be strategic in our focus by managing current cash expenditures to ensure adequate time to secure financing for the long term.

February 5, 2008 - 11:37am

Very light jet developer Adam Aircraft has laid off 300 employees and temporarily suspended operations at its satellite facility in Ogden, Utah. “To provide for our future growth,” said Adam Aircraft president Duncan Koerbel, “we must be strategic in our focus by managing current cash expenditures to ensure adequate time to secure financing for the long term.

 
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