Company's Future Looks Bleak

For not the first time, Taylorcraft Aviation may soon be out of business... leaving potentially dozens of T-Craft customers without their deposits, or their airplanes.

Cash flow, as usual, seems to be the culprit. According to the Brownsville Herald, Harry Ingram, company president, has been hit with over a quarter million dollars in judgments and liens. The company lost its corporate charter in 2004 because of a tax lien, so Ingram may be personally liable for the debt.

To make matters worse, it seems that Taylorcraft is not licensed to manufacture either the parts or the planes, according to Roland Herwick, an FAA spokesman. Ingram says he owns the Taylorcraft type certificates, but "Taylorcraft Aviation LLC does not have the authorization to make airplane parts … (or) manufacture new airplanes,” Herwick said, as reported in the Herald.

Ingram was successfully sued for not returning a customer's deposit in 2004 but he ignored the lawsuit. According to the Herald, Ingram claimed “I didn’t have the money to repay him. I’ve had cash flow issues and I don’t know of many companies that don’t.”

As Aero-News reported, Taylorcraft was awarded an LSA certificate in January. It is not known how many additional orders were placed by eager sport pilots after this news.

Ingram has also been hit with a $100,000 bill for unpaid rent and utilities at the Brownsville-South Padre Island International Airport where the factory is located. He has been told to vacate as of Monday... today.

ANN will continue to report on this developing story.

FMI: www.taylorcraft.com