AAI Acquisition, the company that bought the assets of bankrupt Adam Aircraft Industries, apparently has ended operations at Centennial Airport in Englewood, Colorado.
“It’s come to a very quiet and sad ending,” said Robert Olislagers, director of the airport where Adam Aircraft certified and produced the A500 piston twin and tried to certify the A700 very light jet.
Russian investment firms Industrial Investors and Kaskol bought the Adam assets early last year for $10 million. After rehiring former Adam employees, the company suspended A700 development last November but offered composites design and construction services to other companies.
In February, AAI said it was looking for a strategic partner “to continue the growth of the company” but, during the past week-and-a-half, AAI employees emptied out the Centennial facility, Olislagers said.