Thielert Engine Owner Group Forms
The German law firm overseeing the bankruptcy of Thielert Aircraft Engines says it can't consider the interests of owners, but is instead focused on paying off creditors and getting the company to break-even status. But a Diamond aircraft owner's group would like to change that by banding together and becoming Thielert's largest single creditor. (Thielert owes hundreds of owners on warranty claims and owners are, technically, creditors.)
The Thielert Engine Owners Group is being organized by Todd House, whose company bought a DA42 six weeks ago for use in the emerging air taxi business. He's flying demonstration flights now, but hopes to begin service sometime in June. House told us Thursday that his airplane has 60 hours on it and there's "no way" he can afford to pay Thielert's high prices for required gearbox inspections due at 300 hours. House has five more DA42s and on order, plus positions on Diamond's D-jet, due for delivery next year. He's contacting owner of Diamond and other aircraft with Thielert engines to form a block of creditors. Owners of Columbia aircraft pursued a similar strategy to get their warranties re-instated.