The Adam A700 business jet, now owned by a group of Moscow investors under the name of AAI Acquisition, is no longer making test flights while new investment money is sought.
AAI Vice President Steve Patrick said the company is open to either acquiring a new partner or selling the company outright. The design and business plan continue to be refined at the company headquarters at Centennial Airport south of Denver, but test flying has stopped. Work continues at a “low level,” Patrick said.
The firm continues to market engineering services and skills generated during the development of first the Adam propeller aircraft, a design no longer pursued, and then the A700 jet-powered model.
AAI is owned by Industrial Investors Group .