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CENTENNIAL, Colo.—Centennial-based Adam Aircraft Industries has laid off about 40 percent of its work force and temporarily suspended Utah operations as it works to secure additional funding.
The privately held aircraft developer is working on improvements in the production of a turboprop plane and seeking certification for a light jet.
Company spokeswoman Shelly Simi says 300 employees were laid off—170 at Centennial, 80 in Pueblo and 50 in Ogden, Utah.
The company halted work at the Ogden facility through early summer.
In the meantime, executives are working to secure $75 million to $150 million in additional funding.
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