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.
In a brief statement issued on February 11, Adam Aircraft wrote, “In a difficult but necessary move, Adam Aircraft Industries suspended operations today at its facilities in Colorado. This measure was required due to the inability of the company to come to terms with its lender for funding necessary to maintain business operations. The company is currently exploring all of its alternatives and will provide further guidance when decisions are made, which is expected to be later this week.”
