The future of business aviation in China will include single-engine jets, so says Jim Rice, chairman and CEO of VisionAire Jets, who is here promoting the Vantage composite jet. Rice came to ABACE 2013 not only to show the Chinese market the benefits of a single-engine jet, but also to tell potential investors about the VisionAire program.
Adam Aircraft Industries
Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing late last month revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.
The recession has put the spike to some major new jet development programs, delayed others and shuttered some undercapitalized aircraft companies altogether.
Moribund Adam Aircraft has a new owner. Thomas Hsueh says he plans to decide by year-end whether to place a modified version of the piston-powered A500 push-pull twin into production. He has hired very light jet designer Luc Van Bavel, a veteran of the Safire Jet and Diamond D-Jet programs, to evaluate changes required to make the 500 commercially viable.
The new owner of Adam Aircraft said this week at EAA AirVenture in Oshkosh, Wis., that he plans to decide whether to place a modified version of the A500 push-pull twin into production by year-end.
Very light jets (VLJs) were the topic of intense discussion at the Corporate, Air Taxi and Personal Jets conference held at the Royal Aeronautical Society in London, in March. With the world economy on its knees, the talk was less of VLJs cluttering the skies and more about making the most of a valuable breathing space.
The economic downturn is giving manufacturers and operators of very light jets (VLJs) more time to prepare for the airplanes’ widespread entry into service, according to speakers at the Royal Aeronautical Society’s corporate, air taxi and personal jets conference in London on March 18 and 19.
AAI Acquisition, the company formed to buy the assets of bankrupt Adam Aircraft Industries, is closing its doors at Centennial Airport in Englewood, Colo. “It’s come to a very quiet and sad ending,” said Robert Olislagers, airport director of Centennial Airport, where Adam Aircraft certified and produced the composite A500 piston twin and tried to certify the A700 very light jet.
Russian investment firm Industrial Investors in late January announced its intention to sell all or a portion of AAI Acquisition, the company formed to buy the assets of bankrupt very light jet developer Adam Aircraft Industries last April. According to a company spokesman, Industrial Investors would prefer to find a partner help to develop the A700, but it would also sell AAI outright if needed.
Russian investment firm Industrial Investors today announced it is seeking to sell all or a portion of AAI Acquisition, the company formed to buy the assets of bankrupt very light jet developer Adam Aircraft Industries last April.
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