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.
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.
Last Edit: Feb 12, 2021 19:13:42 GMT 12 by exkiwiforces: Sorry my stuff up, as my blood is currently boiling atm at what is happening to PAC atm.
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.
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.
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.