In order to reduce its certification and production costs, the Adam A700 was built as structurally similar to the A500 (piston engine powered predecessor) as possible. A700 is a six-seat civil utility aircraft that was produced by Adam Aircraft Industries. The aircraft is of pod-and-boom, push-pull configuration with its two Williams FJ33 jet engines mounted to provide centerline thrust.
On 19 February 2008 Adam Aircraft filed for Chapter 7 bankruptcy, having delivered seven A500s only. In April same year Adam Aircraft was purchased from bankruptcy by AAI Acquisition Inc. as a Special Purpose Vehicle company. At the time of purchase this new company indicated that they would pursue certification of the A700 jet as a priority and put a ban to the A500 production. AAI went out of business in spring 2009 without producing any aircraft.
In July 2009 there was an indication that a new buyer, Triton America and Thomas Hsueh were interested in purchasing the A500 design and returning the aircraft to production.
Russian investment firms Industrial Investments and Kaskol (also owners of some Russian charter company) bought the remaining assets of Adam Aircraft Industries early 2008 for $10M. Unfortunately, they failed their attempt to raise the production up from the knees, suspending further A700 development but offering composites design and construction services to other companies.
The prototype A700 first flew on July 28, 2003. Only two conforming prototypes were built.
Most probably, Adam Aircraft has already seen its final shutdown.
Cruise speed: 612 km/h
Total range: 2 646 km
Engines: 2 x Williams FJ33
Wingspan: 13,41 m
Length: 12,42 m
Height: 2,93 m
Width: 1,37 m
Height: 1,3 m
Passengers: up to 5