“You want to make sure with a race in which you'll be flying home with other drivers that you don't crash into them. It's happened before, and it can make for a little bit of a tense situation.”
Sole bidder AAI wins Adam Aircraft assets
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.