AAI Acquisition, a U.S. company and the successor to the former Adam Aircraft Industries, reported that significant steps have been made in its plan to resume operations. Key to the comeback is the naming of veteran aviation executive Jack Braly as the new president and CEO of the company. AAIA purchased the assets and intellectual property of the former Adam Aircraft from the bankruptcy court in April 2008. Adam Aircraft declared bankruptcy in February, 2008.
AAIA also announced that it has completed its business organization process and will focus on FAA certification of its A700 very light jet (VLJ) from its headquarters at Centennial Airport in Englewood, Colorado. Certification is projected for early 2010.
