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.

FMI: www.hp-aircraft.de