Adam Aircraft sent ANN
a recap of significant events and achievements for the firm during
calendar year 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," continued Adam.
"This achievement moved Adam Aircraft from a developmental
company to an FAA-certified manufacturer delivering standard
airworthiness-certificated aircraft."
On May 11, 2005, the Federal Aviation Administration granted a
Type Certificate to the Adam Aircraft A500, allowing the firm to
work toward customer delivery and serving as the precursor to the
first delivery on November 7, 2005, and the second delivery of
Serial Number 006 on December 29, 2005. Following A500
certification, the company completed many 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 during the year, Adam Aircraft rolled out Serial Number 002
of the revolutionary A700 Adam Jet, which will serve as the
standard production and FAA certification aircraft. Additionally,
the company created and installed significant upgrades to the A700
Very Light Jet, including the Avidyne Primary Flight Displays (PFD)
and Multi-Function Displays (MFD), fuel belly pod, autopilot,
pressurization, and expanded nose baggage configuration.
During the year, Adam Aircraft completed sales to individual
owners, fleet companies, and air taxi operators that increased the
company's sales backlog year-over-year from 222 aircraft sales and
a backlog of $435 million, December 31, 2004, to 358 aircraft sales
and a backlog of $730 million, December 31, 2005.
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 Serial Number 002
completed the first-ever Adam Aircraft international flight, flying
to the Bahamas and the Dominican Republic during a five-day
mission.
General Wesley Clark, noted soldier and Rhodes Scholar, joined
the Adam Aircraft Board of Directors. The firm also added two
skilled and experienced executives from the General Aviation
industry. Bill Watters joined as Vice President, Flight Operations.
Watters formerly served with Gulfstream Aerospace Corporation as
Chief Pilot and Senior International Captain, and Shelly Simi,
former Vice President of the General Aviation Manufacturers
Association (GAMA), came on board as Public Relations Counsel. In
May, the firm opened a second assembly facility in Ogden, Utah.