Adam Aircraft Industries
 |
|
| Private | |
| Industry | Aerospace |
| Fate | Shut down by owner |
| Founded | 1998 |
| Defunct | 2009 |
| Headquarters | Arapahoe County, Colorado |
|
Key people
|
George F. Adam, Jr. and John C. Knudsen (Founders) |
| Products |
Aircraft Adam A500 Adam A700 |
|
Number of employees
|
30 (2008) |
| Website | www.adamaircraft.com (archived) |
Adam Aircraft Industries (AAI) was an aircraft manufacturer founded by George F. Adam Jr and John C. Knudsen in 1998. The company was located at Centennial Airport in the Denver-Aurora Metropolitan Area of Colorado.
The company certified and produced the inline piston twin-engined Adam A500, while the turbofan-powered Adam A700 AdamJet was under development. The A700 was intended to be an entrant into the niche of Very Light Jets (VLJs), but its development was ceased before production was achieved.
One of the first Adam A500s manufactured, A500 s/n 0002, was featured in the 2006 Michael Mann film Miami Vice.
In conjunction with partners, the company had won a major contract from Defense Advanced Research Projects Agency (DARPA) for the development of a next-generation rotorcraft, indicating possible longer-term product development potential. However, the firm ceased operations on 11 February 2008, and filed for Chapter 7 bankruptcy on 15 February 2008.
In April 2008, the assets of the former company were purchased from bankruptcy by AAI Acquisition Inc. AAI failed to restart Adam Aircraft and in April 2009 Adam Aircraft finally ceased operations and laid off all its staff.
In April 2011 Triton Aerospace announced that they had acquired the company's assets.
In January 2008 it was announced that Adam Aircraft was having problems raising the capital required to complete certification flight testing of the A700 jet and to enter full production of the A500 piston aircraft. As a result, the company closed its Ogden, Utah plant and laid off 300 workers.
Adam Aircraft President Duncan Koerbel was quoted as saying:
"To provide for our future growth, we must be strategic in our focus by managing current cash expenditures to ensure adequate time to secure financing for the long term. We're off to a good start in this effort with assistance from our partner, Citibank, but we need to be able to provide them with sufficient time working with potential investors to secure long term financing."
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Wikipedia