Nimbus eyes Adam 700, quashes merger plan | Aviation International News

Charter & Fractional

Nimbus eyes Adam 700, quashes merger plan

Nimbus Group is now looking at the recently announced Adam 700 very light twinjet for its proposed affordable nationwide jet-taxi network.

By Gordon Gilbert • Contributor - Accidents and Regulations

May 8, 2008

Nimbus Group is now looking at the recently announced Adam 700 very light twinjet for its proposed affordable nationwide jet-taxi network. The Fort Lauderdale, Fla. company recently failed to obtain sufficient financing to complete its proposed purchase of 1,000 Eclipse 500 very light twinjets.

The surprise revelation follows Nimbus’ mutual termination of a letter of intent with Miami-based holding company Horizons Aviation, for an exchange of stock, after which Horizons Aviation would have had controlling interest in the merged companies. Top officials at both Horizons Aviation and Nimbus Group said that after further investigation it was determined the transaction would “not be in the best interest” of their respective stockholders.

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