50 SKY SHADES - World aviation news

Tamarack Aerospace Group Files Plans to Emerge from Chapter 11

Download: Printable PDF Date: 21 Oct 2019 08:59 category:
Publisher:
Tamarack Aerospace Group Files Plans to Emerge from Chapter 11 - Manufacturer publisher
Krista Kuznecova
Country: United States Aircraft: Airplanes

Tamarack Aerospace Group announced that it has filed a Chapter 11 Plan of Reorganization with the Eastern District of Washington. The filed Plan includes repayment of all creditors in full and, when approved, the Plan will allow Tamarack to emerge from bankruptcy.

Tamarack sought bankruptcy protection on June 1st of this year when the timing for resolving Airworthiness Directives (ADs) became uncertain.  The ADs had grounded the Active Winglet fleet of 91 aircraft after an erroneously reported incident on April 13, 2019.  The grounding was resolved and worldwide Active Winglet operations resumed as of July 10, 2019 following factual review by EASA, FAA, NTSB, and the UK AAIB.

"We continue to make significant progress in the reorganization, we have made a number of strategic changes to the business which has made us more resilient and we will emerge stronger and more viable than before,” said Tamarack President, Jacob Klinginsmith. “In July Tamarack received approval to accept a significant investment for ongoing operations; but the continued Active Winglet sales have allowed us to recover financially and ultimately to present a very strong plan of reorganization.  The Plan is testament to the financial health and viability of Tamarack, and we look for confirmation as early as end of the year.”

An October 31 hearing has been scheduled with the Eastern District of Washington to consider approval of the Disclosure Statement, related to the plan.


Tamarack Aerospace Group has revolutionized aftermarket winglets with its ATLAS Active Winglet technology. Until now, winglets have typically only delivered marginal performance benefits, with all traditional winglets facing the same dilemma: the increase in load requires structural reinforcement of the wing, increasing the aircraft’s weight and thus decreasing the winglets’ benefits. Tamarack has solved this ‘winglet conundrum’ using load alleviation. The ground-breaking ATLAS technology also enables a wing extension, which, when combined with Tamarack’s powerful winglets, is truly transformative to the airframe.​

ATLAS Active Winglets typically deliver the following benefits: double-digit fuel savings, payload increase, significant range increase, outstanding climb performance, ride smoothing, increased structural life, and increased safety and stability. Structural reinforcement is not required, making Active Winglets light weight, quick and easy to install.



Loading comments for Tamarack Aerospace Group Files Plans to Emerge from Chapter 11...


Recommended

Full slate of Gulfstream customer-centric support events 2020

Gulfstream Aerospace Customer Support organization will host a comprehensive schedule of customer-focused events in 2020, including its biennial Operators & Suppliers Conference, two Customer...

Magnetic Leasing first contract landing gear lease - Ryanair

Magnetic Leasing has signed a deal with Ryanair, Europe’s largest airline, for a landing gear lease. The agreement covers an 8 month lease period during which the landin...

RUAG Aerostructures and Airbus agree on long-term cooperation

RUAG Aerostructures and Airbus have concluded an agreement to strengthen their long-term partnership. Over the coming six years, RUAG will be manufacturing and supplying the rear center section&n...

Enhancing aviation value for tomorrow - Singapore Airshow Aviation Leadership Summit

More than 300 aviation leaders from over 50 countries, including Transport Ministers and senior executives of civil aviation authorities, international organisations, airports, airlines, aircraft manu...