AAI Acquisition, which bought the assets of Adam Aircraft Industries for $ 10 million after Adam filed for bankruptcy in February, is ramping up the certification program for the A700 very light jet. The company has hired 125 employees, mostly engineers, and is working toward A700 certification late next year or in early 2010.
Jack Braly, former Beech Aircraft president and Sino Swearingen president and CEO, was hired to do some consulting for AAI and is now acting CEO. In September, AAI plans to release updated pricing information, performance specifications, features lists and details about training and support so it can begin taking A700 orders.
In the meantime, AAI has resumed flight testing A700 S/N 4, and number three will fly again later this year after undergoing modifications to bring it into conformity with the final design. S/N 5 was under construction when Adam went bankrupt and is now being assembled for a first flight next year, followed by end-stage function and reliability testing.