Group Formed To Pressure Thielert AG, Diamond Aircraft
Reeling from uncertainty surrounding the insolvency of German
aircraft engine manufacturer Thielert AG, owners of
Thielert-powered aircraft have organized and retained German legal
counsel to represent their interests.
The Thielert Engine Owners Group (THENOG) was formed last week
to protect the investment of nearly 1,000 affected aircraft owners,
including about 900 owner/operators of DA42 twin-engine and DA40
tdi single-engine aircraft. Nearly 50 percent of those aircraft are
currently grounded... and nearly all may be rendered uneconomical
to operate, depending on the outcome of the Thielert situation.
"Owner/operators of
Thielert-powered aircraft have been treated to a horror-show of bad
news over the last three weeks, including the unexpected and sudden
cancellation of engine warranties, quadrupled engine-part prices, a
variety of service bulletins on the engines that force early engine
repairs and replacements and uncertainty over parts supplies," the
group tells Aero-News.
"Over the past three weeks, owners have found the cost of
Thielert engine maintenance rising by as much as 800% and have
received confusing and contradictory messages about parts
availability. As a result, many users have been forced to mothball
their aircraft till further notice."
Unexpected and unanticipated economic losses from the aircraft
groundings are currently totaling about $1 million (US) per week,
said Todd House, a founder and director of the group, who is
President of YourJet LLC, a startup air-taxi company in Louisville,
KY that currently operates a DA42 aircraft.
Complicating matters is an acrimonious and public battle of
charges and counter-charges between Thielert, and Diamond Aircraft,
the largest manufacturer of Thielert-powered airplanes.
"Diamond and Thielert have engaged in a war of words, while
afflicted aircraft owners watched helplessly from the sidelines,"
House said. "That all changes now."
"It is our goal to establish THENOG as a substantial creditor to
Thielert due to the cumulative value of warranty agreements for our
engines, said Vilis Ositis a THENOG founder and board member. "When
the value of our warranties is established to the court we expect
to earn a seat on the creditor's committee. Given the number of
owners we already represent we expect to have a strong vote on the
committee that will allow us to direct the outcome of the
insolvency," Ositis said.
To that end, THENOG has retained legal counsel in Hamburg to
represent engine-owners as a group and to obtain creditor status
for them during the insolvency proceedings. "With hundreds of
aircraft being effectively held to ransom by the actions of the
Thielert administrator we have had no choice but to band together
to create the legal and political pressure on Thielert (and
Diamond) to resolve this issue speedily and professionally,"
European THENOG board member Peter Bondar added.
Thielert-powered aircraft owners can now participate in the
process by registering their interest and assigning their power of
attorney at the Thielert Engine Owners Group website. House
believes that strength in numbers will help achieve the goal of
getting the engines and the affected aircraft flying again.
"THENOG is now a global effort to join all Thielert engine
owners in this common cause to take our place at the negotiation
table and in the courtroom to protect our interests, our
businesses, and, ultimately, our safety," he said.
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