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Adam Makes Deal for 100 AdamJets
Adam Aircraft has "a handshake deal" with an established fractional jet company covering 100 A700 AdamJet personal jets, according to company president Joe Walker. The customer has asked not to be identified until it is ready to launch its complete AdamJet program, which will operate as a distinct brand within its business, says Walker. Adam Aircraft and the customer have agreed to conclude and announce the deal before the end of the year.
The $200 million order will virtually double Adam's backlog, Walker says. The company says that it has taken orders for 65 of the $1 million, twin-piston A500s. Thirty A700s have been sold to individual customers and 75 to air-taxi start-up Pogo.
The sixth A500 and the first aircraft destined for a customer has been rolled out of Adam's assembly facility at Centennial airport in Englewood, Colorado. The company received type inspection authorization from the FAA on September 30, and certification is expected shortly following FAA flight tests. Adam expects to deliver two aircraft before the end of the year and 40 A500s next year.
Production rates for 2006, uncluding the A700, are still being reviewed in the light of the new fractional order, says Walker. The fractional and Pogo orders will dominate early deliveries, but Walker cannot yet say how many early delivery positions remain open.
—Bill Sweetman
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