Company Now Employs About 200, Including 50 Former Adam Workers

AAI Acquisitions, Incorporated took the opportunity to host a news conference at NBAA 2008 this week, to publicize its progress in getting the Adam Aircraft A700 very-light jet into production.

As ANN reported earlier this year, AAI stepped in -- with Russian investors -- when Adam filed for bankruptcy in January. The company purchased the assets of the defunct planemaker, including work done to date on the A700, and the type certificate for its centerline piston-twin predecessor, the A500.

AAI subsequently dumped the problematic A500, and focused its efforts on bringing the oft-stalled A700 to market. Until this week, however, AAI had not been especially forthcoming with its goals for the A700 program, or target dates for certification and first deliveries.

At the press briefing Monday, AAI President and CEO Jack Braly mentioned while the company hasn't been making headlines recently, its workforce has grown from an original core of about 50 former Adam employees to about 200 today, and will reach 500 in the near future... all based at Adam's former facility in Englewood, CO near Centennial Airport (APA).

He says the plane itself has undergone a nose-to-tail design review, and is working through required FAA tests. Priorities will be to ensure the plane's design is optimized for certification and manufacturing, to gain full FAA type certification in the first half of 2010 (and EASA approval within a year afterward) and to establish a network of dealers and service centers.

Of particular interest in the current economic environment, Braly emphasized his investors have committed $200 million to the project, and that the money is available as soon as needed.

Braly stresses that while the company will not publish estimated performance numbers or an introductory price until they can be stated accurately, the A700 will be competitive in both, with preliminary specs of 340 knots-plus at 41,000 feet, with NBAA IFR range in excess of 1,100 miles.

It's also likely we'll see a new name for the aircraft, as the A700 brings to mind memories of the Adam Aircraft days... and besides, the name "AAI A700" doesn't quite roll off the tongue...

FMI: www.a700jet.com