On June 9, 2008, about 1401 eastern daylight time, an Aero Commander 500S, N501AP, registered to and operated by Gramar 500, Inc., experienced a loss of engine power in both engines and was ditched in the Atlantic Ocean about 1/2 mile south of North Bimini, Bahamas. Visual meteorological conditions prevailed in the area and a visual flight rules flight plan was filed for the 14 Code of Federal Regulations (CFR) Part 91 personal flight from Nassau International Airport (MYNN), Nassau, Bahamas, to Ft. Lauderdale Executive Airport (FXE), Ft. Lauderdale, Florida. The airplane was destroyed due to salt water immersion, and the airline transport rated pilot, the sole occupant, was not injured.

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