Flying eNewsletter (April '08)
ADAM AIRCRAFT SOLD: COULD OPEN DOORS NEXT WEEK

After investing hundreds of millions to develop its A500 and A700, Adam Aircraft has been sold for $10 million to AAI Acquisition Inc, said to be backed by Russian private equity firm Industrial Investors. According to The Denver Post, the Adam plant at Centennial Airport outside Denver could reopen as early as next week. Adam, which certified its piston twin A500 and was working toward certification of its A700 twinjet, declared Chapter 7 bankruptcy earlier this year. Trustee Jeffrey Weinmann told the newspaper, "This is good for the city; it's good for Colorado; it's good for the bankruptcy estate to sell it whole rather than piecemeal."