AAI meaning in Business ?

Answer:

What is Adam Aircraft Industries mean?

Adam Aircraft Industries (AAI) was an aircraft manufacturer founded by George F. Adam Jr and John C. Knudsen in 1998. The company was located at Centennial Airport in the Denver-Aurora Metropolitan Area of Colorado.

The company certified and produced the inline piston twin-engined Adam A500, while the turbofan-powered Adam A700 AdamJet was under development. The A700 was intended to be an entrant into the niche of Very Light Jets (VLJs), but its development was ceased before production was achieved.

One of the first Adam A500s manufactured, A500 s/n 0002, was featured in the 2006 Michael Mann film Miami Vice.

In conjunction with partners, the company had won a major contract from Defense Advanced Research Projects Agency (DARPA) for the development of a next-generation rotorcraft, indicating possible longer-term product development potential. However, the firm ceased operations on 11 February 2008, and filed for Chapter 7 bankruptcy on 15 February 2008.

In April 2008, the assets of the former company were purchased from bankruptcy by AAI Acquisition Inc. AAI failed to restart Adam Aircraft and in April 2009 Adam Aircraft finally ceased operations and laid off all its staff.

In April 2011 Triton Aerospace announced that they had acquired the company's assets.

reference

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