Wed, Jul 12, 2006
Failed To Secure Funding For Expensive Redesign
Aero-News has learned
that High Performance Aircraft GmbH & Co. KG (HPA), the
developer of the TT62 composite-bodied, diesel-powered twin that
first flew in February 2005, filed for bankruptcy protection July
10 under German law.
According to HPA's CEO Klaus Götsch, the company was forced
to file for bankruptcy after one of the prospective investors
recently bailed out of the venture.
A court-appointed bankruptcy administrator will now manage the
fate of HPA, and try to rescue the company -- and the TT62 aircraft
design from extinction.
In its original configuration, the TT62 Alekto was a composite
twin powered by two TAE Centurion 4.0 diesel V8 engines buried in
the rear fuselage, behind the pressurized cabin.
The 310 HP engines were designed to propel the TT62 to cruise
speeds of well over 200kts, with efficiency approaching 50 nautical
miles per gallon, and a 1,700 nm range with IFR reserves.
Sources with HPA told Aero-News that funding wasn't the only
problem facing the TT62, which featured unique stalk-mounted
tractor propellers at the rear of the aircraft.
They say the maiden flight of the test aircraft -- as reported by ANN --
unfortunately did not meet performance expectations... forcing the
company to focus its efforts -- and remaining funding -- on a major
redesign of the pressurized twin.
That redesign did away with unconventional position of the
engines, towards a more conventional design with the engines
integrated in the wings of the aircraft. Since the redesign was
associated with major additional costs, HPA was actively looking
for new investors, but did not have the financial stamina to live
through the process.
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