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Post by daqqy152 on Feb 11, 2021 17:33:51 GMT 12
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Post by madmac on Feb 11, 2021 18:15:44 GMT 12
All I have got is that rumour (3rd hand) has it they are being liquidated.
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Post by ZacYates on Feb 11, 2021 22:43:25 GMT 12
Oh dear!!
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Post by planewriting on Feb 12, 2021 17:41:45 GMT 12
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Post by madmac on Feb 12, 2021 18:03:36 GMT 12
Any body know what their current order book looked like?
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Post by Dave Homewood on Feb 12, 2021 18:30:32 GMT 12
It is sad news for all those who work there, and another huge blow to our aviation industry. I was told yesterday about this, confidentially.
Such a pity to see the company go under just after they got the Cresco back in production and the Expedition flying. And of course all the home grown designs will be owned by the Chinese investors, so this will be an end of an era for NZ production but maybe not for the designs.
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Post by exkiwiforces on Feb 12, 2021 18:46:21 GMT 12
I wouldn’t be surprised if the current Chinese owners have deliberately force PAC into liquidation by asset stripping PAC and therefore move all of the design and manufacturing to China. So they can avoid their obligations as laid out the Foreign Investment Commission when the National Government approval the sale of this once great Kiwi manufacturing company.
Just saying
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Post by l29 on Feb 12, 2021 19:44:17 GMT 12
Thats exactly what has happened. All production will move to china. They should have never got in bed with them.
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Post by exkiwiforces on Feb 12, 2021 21:24:51 GMT 12
Thats exactly what has happened. All production will move to china. They should have never got in bed with them. Will do you expect when the NZ Foreign Investment Broad approve it and was rubber stamp by the last National Government like it with Airwork NZ Ltd and this is the same government in cahoots with Treasury to forced AirNZ to sell its “Non Core Assets” Safe Air & TAE. |
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Post by madmac on Feb 13, 2021 9:15:46 GMT 12
Any body know what the current Bi-laterals are like between the CAAC and the rest of the worlds Aviation Authority are. I am been keeping upto date but, isn't anything built in china likely to only acceptable to only a modest number of countries.
Didn't AirNZ sell Altitude because poor management had resulted in a 20 million loss, noting it was sold at the same time Luxton flogged the other 2.
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Post by AussieBob on Feb 13, 2021 18:09:57 GMT 12
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Post by madmac on Feb 13, 2021 20:14:27 GMT 12
Given its owned outright by the PRC state, its closure is just as likely about International politics than any actual economics. Anyway, there's not a rocket or electric engine in sight, so its not the "in thing" in aerospace for access to the government slush fund. |
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Post by johnm on Feb 14, 2021 11:03:14 GMT 12
Bugger - awesome nz product - how many employees ?
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Post by retiredav8r on Feb 14, 2021 11:20:46 GMT 12
According to the NZ business office, the shareholders are 50/50
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Post by Dave Homewood on Feb 14, 2021 11:50:09 GMT 12
I read on Facebook that the Chinese production arm has also closed down along with the New Zealand arm. Has anyone got confirmation of this?
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Post by retiredav8r on Feb 14, 2021 14:46:45 GMT 12
If the company is 50/50 ownership, one would expect that production is stopped in NZ and China, they will be operational under the same type certificates.
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Post by baronbeeza on Feb 14, 2021 16:19:29 GMT 12
There are a couple of consideration that concern me here. I have seen PAC and it's successors go through something similar to this a few times now over the last 4 or 5 decades. This time I believe it is different. Much of the US GA market has drifted across to Chinese production, look at the 'new' Continental engines that are just copies of the older Lycomings. I would be very surprised if any manufacturing capability remained in NZ, given the current circumstances. The other worry is the status of the Type Certificates and fleet support. The CAA has given options. I think the older Victa and Airtourer Certificates were picked up by the Airtourer Association. Perhaps that is a possibility for the CT-4 here also, given the large number now in civilian operation. The Fletcher support will also be a worry to the industry. There will be ongoing need for technical support and parts. The aerial top-dressing industry in this country has not been killed off yet. Continentals are Gold, Lycomings are Grey. generalaviationnews.com/2019/07/24/continental-introduces-drop-in-engine-replacement-for-cessna-172s/ The real McCoy  |
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Post by baronbeeza on Feb 14, 2021 16:41:47 GMT 12
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Post by woody99 on Feb 14, 2021 17:51:24 GMT 12
Looks like it on first page of each document. Airtourer Co-Op?
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Post by Dave Homewood on Feb 14, 2021 18:38:14 GMT 12
I have edited this thread. Please, do not make any offensive posts or they will be removed. I missed one earlier and now have had to do a big clean up of the thread.
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