American Aviation Corporation was an American aircraft manufacturer based in Cleveland, Ohio. It was established by Jim Bede under the name of Bede Aircraft in the mid-1960s to manufacture and market the Bede BD-1 two seat light aircraft.  The BD-1 and was originally intended to be sold as a kit-built aircraft. However, Bede decided to certify the design under the then-new FAR Part 23 rules and offer it as a completed aircraft. No BD-1 kits were ever sold

During the development of the BD-1 there was conflict between Bede and the other shareholders and Bede was removed from the company. Russ Meyer became the new company president at age 34. The company was renamed American Aviation and the BD-1 was re-designed to become the AA-1 Yankee, which entered production in 1968.  Variants include, AA-1 Yankee, AA-1A Trainer, AA-1B Trainer/Tr-2, and AA-1C T-Cat/Lynx.

In 1971 a four-seat version of the AA-1 was introduced as the AA-5 Traveler. Variants include, AA-5 Traveler, AA-5A Cheetah, AA-5B Tiger, and AG-5B Tiger.

In 1972 the company was acquired by Grumman to become its light aircraft division and was renamed Grumman-American.

In 1977 the Grumman light aircraft line was acquired by Gulfstream Aerospace who formed it into their light aircraft division, Gulfstream American.  Gulfstream ceased production of all piston-engined aircraft in 1979.

For eleven years the design was not produced and then in the late 1980s a new company was formed to produce the AA-5B Tiger. American General Aviation Corporation produced Tigers for model years 1990-93.

In 1999, a new company was formed to put the Tiger back into production. Tiger Aircraft started production of the AG-5B Tiger in 2001 at their plant in Martinsburg, West Virginia. Tiger Aircraft did not produce any other models of the AA-1 or AA-5 family, although they owned the type certificates for the complete line of aircraft. Between 2001 and 2006 Tiger Aircraft produced 51 AG-5Bs. By the middle of 2006 Tiger Aircraft was experiencing financial problems and production of AG-5Bs had been halted.  Tiger Aircraft filed for bankruptcy in January 2007.

On August 2, 2007 The Federal Bankruptcy Court approved the sale of Tiger Aircraft assets to True Flight Holdings LLC. True Flight has indicated its intention to produce parts and also return the AG-5B Tiger to production at a planned 60,000-square-foot facility on a 13-acre lot at the Valdosta, Georgia Airport.

Source: Wikipedia