Positive prospects for Thielert, bankruptcy official says

May 5, 2008

Positive prospects for Thielert, bankruptcy official says

By Alton K. Marsh

The bankruptcy administrator appointed to oversee the insolvency of Thielert Aircraft Engines said in a letter to Thielert customers that business operations will continue, at least temporarily, to maintain product viability and preserve reorganization opportunities.

German attorney Bruno M. Kubler said Thielert is in a position to fill all orders it has accepted and to do so with the usual level of quality and reliability. That’s good news for Diamond Aircraft, which has 30 Thielert-powered DA42 twin-engine aircraft in various stages of completion. Diamond senior management will this week seek a meeting with Thielert leadership and the insolvency administrators. Of special concern is the ability to support DA42 aircraft with spare parts.

Diamond is compiling a central inventory of all new and serviceable used spare parts and intends to place orders with the insolvent Thielert for a significant spare parts inventory, the company said in a letter to customers and service centers.

May 5, 2008