AAI had initially intended to certify the A700 in the first quarter of 2010, but citing the economic crisis of 2008 President and CEO Jack Braly announced on 28 October 2008 that "Flight test and other development activity have been suspended".

Braly indicated that the company's investment team and board of directors are reviewing the economic and market conditions and will decide on a new schedule for certifying the A700.

[6][7][8][9] The Federal Aviation Administration accepted the previous certification data that Adam Aircraft recorded, which would have greatly simplified certification efforts by the new company, however in April 2009 Adam Aircraft ceased operations and laid off all its staff, ending development of the A700.

[7][10] In April 2011 Triton Aerospace, the new holder of the type certificate, indicated that they would concentrate on the A500 and had no plans to continue development of the A700, even though they had two disassembled examples.

Unlike on the A500, the A700's two engines were mounted on the sides of the fuselage, in a non-centerline thrust arrangement, eliminating one of the design advantages of the A500 configuration.