New Zealand Aircraft-Maker Pacific Aerospace Declared Insolvent

The New Zealand Civil Aviation Authority (CAA) has suspended the certificates of Pacific Aerospace, after it told the regulator it is insolvent, but operators of aircraft made by the New Zealand aircraft manufacturer may continue flying, Smart Aviation reported. The CAA says the aircraft manufacturer notified it on 10 February that it was insolvent, “and as a result, we suspended Pacific Aerospace’s certificates which had previously allowed it to design, manufacture and maintain aircraft,” the CAA says in a statement. “These certificates require the organisation to be in a financial position to comply with all their safety requirements and this is sadly no longer the case for Pacific Aerospace,” it adds. The CAA says it has issued a notice to operators of Pacific Aerospace produced aircraft, saying they may continue to operate unless a serious safety or airworthiness issue is identified which would affect all aircraft of that type. “Normally such issues would be addressed by the manufacturer or another organisation which has responsibility through holding a ‘type certificate’.” With PAL in financial distress and its certificates suspended, the CAA is reviewing how safety issues involving Pacific Aerospace aircraft could be addressed in future.” It says there are four options: reinstatement of Pacific Aerospace’s certificates if the company can meet its responsibilities under those certificates; the CAA assumes operational safety responsibility for Pacific Aerospace aircraft, transfer of this responsibility and ‘type certificates’ to another company or – as an absolute last resort – suspension or revocation of the certificates allowing Pacific Aerospace aircraft to operate. Read more.