““It’s not so much a frenzy as it was before, but in the long term it’s going in the right direction.” ”
Adam Aircraft Falls Into Bankruptcy
Adam Aircraft of Englewood, Colo., suspended operations on February 11 and four days later filed Chapter 7 bankruptcy, meaning the company will be liquidated. Adam had certified the A500 piston twin and was working on certification of the A700 very light jet. Although Lynn Tilton, CEO of MD Helicopters, had suggested at the annual Heli-Expo convention in late February that her company's financial backers might be interested in purchasing the assets of a "struggling VLJ manufacturer," no developments along these lines have yet been announced.