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Top News In பெஸிஃபிக் விண்வெளி வரையறுக்கப்பட்டவை Today - Breaking & Trending Today

Pacific Aerospace revived as Liquidators find New Owner

Pacific Aerospace revived as Liquidators find New Owner
28 April 2021
Liquidators Khov Jones announced yesterday that they have sold Pacific Aerospace Limited to a local company, meaning the aircraft manufacturer will once again be 100% New Zealand owned.
PAL went into administration in February when the CEO said the company was unable to meet its financial obligations, threatening the type certificates of several aircraft including the P-750 single-engined turbo-prop and the E350 Expedition.
Liquidators Steven Khov and Kieran Jones conducted a sale process that attracted expressions of interest from 30 parties.
Several formalised offers were received for various aspects of the business and/or assets, Khov Jones said. Ultimately, the sale to the purchaser meant the Pacific Aerospace business will remain in New Zealand and local staff will be offered employment by the purchaser. ....

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Bidders line up for New Zealand's Pacific Aerospace

Bidders line up for New Zealand s Pacific Aerospace
15 April 2021
by Jon Grevatt
About 30 investors have expressed an interest in acquiring New Zealand-based Pacific Aerospace Limited (PAL), a shareholder report by the company’s liquidators said on 14 April.
According to the report, PAL – manufacturer of the CT-4 military trainer aircraft – owes its unsecured creditors about NZD41.2 million (USD29.5 million) and secured creditors NZD1.7 million.
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Pacific Aerospace boss during North Korea export sanction breach now works for NZTE

Pacific Aerospace boss during North Korea export sanction breach now works for NZTE
12 Apr, 2021 05:00 PM
4 minutes to read
Pacific Aerospace s P-750 aircraft is popular for skydiving. Photo / Supplied
Trade promotion agency NZTE says its employment of the man who headed an aircraft maker fined for breaching United Nations sanctions by indirectly exporting replacement parts to North Korea considered his extensive experience of running
an export business.
Damian Camp was chief executive of Hamilton-based Pacific Aerospace when it pleaded guilty in 2017 to three breaches of the UN sanctions against North Korea and one charge under the Customs and Excise Act.
He left Pacific Aerospace in 2019 after 12 years as chief executive. He is now an NZTE customer manager for specialised manufacturing, a job he s held since September. ....

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Court Documents set out PAL Situation - Australian Flying

Court Documents set out PAL Situation - Australian Flying
australianflying.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from australianflying.com.au Daily Mail and Mail on Sunday newspapers.

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PAL Certificates Suspended Amidst Financial Troubles

AVweb
Image: Pacific Aerospace Limited
New Zealand’s Civil Aviation Authority (CAA) issued a continuing airworthiness notice on Thursday temporarily suspending the maintenance, design and manufacturing organization certificates held by Pacific Aerospace Limited (PAL). The decision was made after PAL notified the agency that the company was in financial distress. The CAA stated on Friday that aircraft produced by PAL may continue flying unless a safety or airworthiness issue is identified.
“The CAA was informed on Wednesday about PAL’s financial status and since then we’ve been working through what the implications are for PAL aircraft operating in New Zealand and around the world,” said Dean Winter, CAA deputy chief executive of aviation safety. “As a result, yesterday we suspended PAL’s certificates, which had previously allowed it to design, manufacture and maintain aircraft. These certificates require the organisation to be in a financ ....

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