06 March 2008

Rumbles From Beyond The General Aviation Grave

Colorado based general aviation startup Aviation Technology Group (ATG) is showing signs of life. Fellow Colorado based general aviation startup Adams Air is in a Chapter 7 liquidation, but:

[ATG] has completed the renegotiation of credit agreements and is focused on negotiations for a sale or majority buyout of the company.

According to a statement, the Centennial Airport-based company has completed renegotiation of "teaming agreements" and said its plan is to ask for best and final offer bids due in a few weeks.

The company's discussions "include developing alternatives to continue operations in the short term as well as long-term options."

The company has laid off almost all of its employee, at which point most observers had given it up for dead, and has a personal jet aircraft design awaiting FAA approval.

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