Adam Touts 2005 Achievements

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It must be that time of year -- airframe manufacturers are coming out of the woodwork to deliver glowing reports of their achievements in the previous year and updates on their various development programs. Not to be left out, Adam Aircraft earlier this month reminded us that it received the FAA Type Certificate for its A500 push me/pull you piston twin in May, leading to the first two deliveries by year's end. As we reported earlier this month, however, the company still has a ways to go before removing some fairly significant operating restrictions on the A500. Nevertheless, Adam says it has developed many A500 upgrades, including a production interior, passive restraints and airbags, an STC (Supplemental Type Certificate) with the aircraft’s Avidyne Entegra avionics panel, and all maintenance and parts documentation. Also in 2005, Adam readied s/n 002 of its A700 Adam Jet, which will serve as the standard production and FAA certification aircraft. Presently, Adam says it has increased its backlog of orders from individual owners, fleet companies and air taxi operators from 222 aircraft worth $435 million on Dec. 31, 2004, to 358 aircraft valued at $730 million as of Dec. 31, 2005.

Rick Adam, Adam Aircraft founder and chief executive officer, noted, “The team worked diligently all year and stayed focused on completing our short-term objectives that helped us achieve our long-term goals. This hard work paid off as we offered superior value and performance throughout the year to both customers and investors. The firm achieved our most significant milestone in November, when we completed our first customer delivery, Serial Number 005 of the A500 piston twin aircraft.” Adam continued, “This achievement moved Adam Aircraft from a developmental company to an FAA-certified manufacturer delivering standard airworthiness-certificated aircraft.” In November, the General Aviation Manufacturers Association (GAMA) Board of Directors unanimously voted Adam Aircraft into its national trade association, which represents the leading general aviation manufacturers. Also in November, A500 s/n 002 completed the first-ever Adam Aircraft international flight, flying to the Bahamas and the Dominican Republic during a five-day mission.