On February 23, 2008, approximately 1030 mountain standard time, a Hardy Midget Mustang M-1, N53041, piloted by a private pilot, was substantially damaged when the pilot lost control and the airplane struck a snow bank on takeoff at Central Colorado Regional Airport (AEJ), Buena Vista, Colorado. Visual meteorological conditions prevailed at the time of the accident. The personal flight was being conducted under the provisions of Title 14 Code of Federal Regulations (CFR) Part 91 without a flight plan. The pilot, the sole occupant on board, was not injured. The local flight was originating at the time of the accident.

In a telephone interview with the pilot shortly after the accident, he said he started his takeoff roll on runway 33. When he reached 50 mph, he pushed the control forward stick to raise the tail. The airplane swerved to the left and the pilot corrected with right rudder. The airplane struck a snow bank along the right side of the runway, bounced over it, and came to rest facing south. Winds recorded by the AEJ Automated Weather Observation Station (AWOS) were from 270 degrees at 10 knots, gusting to 18 knots. The pilot's accident report reflected this statement. He reported no flight control anomalies.

Post-accident examination revealed the fuselage was buckled and the left main landing gear was bent aft, buckling the left wing.