Thielert Recovering From Insolvency, Company Says
Despite last year's insolvency and a subsequent drop in production, Thielert Aircraft Engines is now in the black and working to capacity, according to Bruno M. Kubler, the company's insolvency administrator. Kubler also said in a news release on Wednesday that all employees still have their jobs. "The fact that TAE was able to make it back into the profit zone again without any staff cuts is especially gratifying, particularly in these financially difficult times," Kubler said. He added that he is negotiating with new potential investors, including two defense contractors, and he is hopeful that by developing new military applications for the diesel engines and quickly obtaining certifications, the company can ensure its sustainable future. However, Superior Air Parts, a former Thielert subsidiary that got into financial straits following the bankruptcy of its mother company, has not fared so well. Superior filed for bankruptcy last week and laid off much of its staff. Owners of Diamond Twin Stars also are not unscathed, facing several alternatives for dealing with the Thielert problem, none of which will be entirely satisfactory. (Click here for a recent analysis of the Twin Star situation by AVweb Editorial Director Paul Bertorelli.)
Thielert supplies certified diesel engines and parts worldwide to customers in the general aviation sector, as well as engines for reconnaissance drones.