“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Adam Aircraft Sells Very Light Jets in China
Adam Aircraft may have taken the first very light jet order from the People's Republic of China. The Denver-based manufacturer announced receipt of a firm order for 50 AdamJet A700 twin-boom VLJs from Hainan Zhong Hang Tai General Aviation Airlines, the China-based operating entity of Ameritech Aerospace.
The acquisition, according to Adam Aircraft, is part of the Chinese company's strategy of capitalizing on the country's fast-growing general aviation market with a fractional-share program and air-taxi operation. Adam expects the A700 to receive FAA certification in early 2008.