Plane Owners Grounded By Manufacturer Bankruptcy

By: Associated Press
By: Associated Press
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It's a buyer's nightmare: plunk down more than a million dollars for a new twin-engine airplane, and after it finally arrives, the manufacturer goes out of business.

The state of New Mexico is an owner of what the aviation industry calls "orphan" planes. There's no warranty on their new aircraft and no factory to easily supply spare parts.

The predicament emerged after Englewood-based Adam Aircraft filed for bankruptcy earlier this year.

In January, New Mexico's Department of Public Safety received the last of five Adam A500 planes that went to buyers.

The state can still fly the planes and has a technician who can service them.

But Public Safety Secretary John Denko says the agency was unaware of Adam's finances when the state bought the planes.

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