Sole bidder AAI wins Adam Aircraft assets

Business Jet Traveler » June 2008
Sunday, June 1, 2008 - 5:00am

AAI Acquisition has purchased bankrupt Adam Aircraft Industries for $10 million, having made the only bid for the composite twin turboprop and very light jet aircraft developer. The assets include prototype and unfinished A500 piston twins and A700 VLJs. "We plan to revive Adam Aircraft's operations," said Dmitry Shokhin, vice president of AAI Acquisition, "including continuing the process of certification for the A700 jet." AAI Acquisition was formed by a group of former Adam Aircraft employees and Moscow- and London-based Industrial Investors, a private equity asset management company. Industrial Investors owns two aviation projects: Velvet Skylines, a charter broker; and Russian air-taxi company Dexter.

Share this...

Add your comment:

By submitting a comment, you are allowing AIN Publications to edit and use your comment in all media.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
 

Quote/Unquote

“When you get into the larger aircraft it becomes like a hotel, with dozens of staff supporting the plane based in a galley area down below. You have very comprehensive cooking facilities, and on larger aircraft we have looked at theatres, with spiral staircases and a Steinway grand piano. The limitations for what you can put inside a plane are pretty much the limits of physics, and even money cannot always overcome that. Even so, people are still always trying to push [the limits]. ”

-Howard Guy of Design Q, a UK-based consultancy