Aircraft - Thursday, June 21, 2007
More Capital For Adam Aircraft
Englewood, CO-based Adam Aircraft has raised a $105M credit facility placed by Morgan Stanley. It had raised $182M in venture capital funding, from Goldman Sachs and others. We have covered Adam extensively, but updates are that it has delivered 7+ aircraft which cost $1M each. It claims about 400 backorders for jets that will cost about $2.2M, about half what a typical jet costs. So long as Adam can get the jet certified it will be in a sweet spot as wealthy folks have had it with commercial airline travel and will pay anything to avoid it.
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