New Very Light Jets | Aviation International News

New Very Light Jets

This year has seen some significant changes in the very light jet (VLJ) category, with two manufacturers going bankrupt and another facing serious financia

By Matt Thurber • Editor-in-Chief

September 30, 2008

This year has seen some significant changes in the very light jet (VLJ) category, with two manufacturers going bankrupt and another facing serious financial challenges.
Aviation Technology Group was the first of the modern crop of very light jet manufacturers to fold, having filed for liquidation (Chapter 7 bankruptcy) in May.
Since then, there has been no word on what has happened with ATG’s assets and no sign that the unique twin-engine military-style Javelin VLJ will ever make it to the commercial marketplace.

Adam Aircraft also filed for bankruptcy, but its assets were sold for about $10 million to the highest and only bidder, a group called AAI Acquisition (AAIA) that is backed by a Russian company. At Centennial Airport in Englewood, Colo., where AAIA is headquartered in the former Adam facilities, the company has resumed flight testing of the A700 VLJ and hired back many Adam engineers.

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