As a first step in its Chapter 11 reorganization Tamarack Aerospace Group has appointed a new leadership team.
Tamarack Aerospace founder and inventor of the Active Winglet, Nicholas Guida, takes the helm as CEO and former Tamarack chief engineer, Jacob Klinginsmith, has been appointed president.
Guida and Klinginsmith were nominated for these roles soon after the 1 June, 2019 voluntary Chapter 11, bankruptcy filing, which comes as a result of the recent EASA and FAA ADs issued against the Active Winglets.
These nominations are part of a strategic reorganization meant to ensure the continued strength and viability of Tamarack and to offer continued operational safety of the existing fleet and develop new product lines.
Klinginsmith said: “We have some significant short-term challenges to overcome as a result of the ADs, but I am confident that the technical solutions we have proposed to EASA and the FAA ADs will be accepted.
“We will continue to work closely with authorities to lift the restrictions on the fleet. We see Chapter 11 as a temporary situation and we look forward to continuing to support and grow our customer base.”
Guida said: “Our commitment to our customers to quickly resolve this imposed hurdle is our main priority each day; however, looking beyond the current situation, there is much to be optimistic about. The outstanding performance and benefits of the Active Winglet technology has been proven on the Cessna Citation 525 series and we made a healthy profit last year.
“We have already started implementing the new business plan which capitalizes on these strengths and we have identified many more aircraft that will benefit greatly from this transformative technology. I am confident that we will emerge from Chapter 11 stronger and more invigorated.”