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CENTENNIAL, Colo. (AP) -- Adam Aircraft Industries has laid off about 40 percent of its work force and suspended Utah operations while it works to get more money.
The privately owned 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 in Centennial, Colo., 80 in Pueblo, Colo., and 50 in Ogden, Utah.
The company is halting work in Ogden through early summer.
In the meantime, executives are working to secure $75 million to $150 million.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
