Here are some of the questions we’re hearing:
Q1: Is Tamarack Open for Business? What’s going on with the company?
Q2: Tamarack raised capital recently. What were the funds used for?
Q3: When will Tamarack emerge from Chapter 11 bankruptcy?
Q4: Have the ADs imposed by EASA and the FAA been completely resolved?
Q5: Will Tamarack continue to maintain and upgrade their technology in the future?
Q6: Are Active Winglets safe? What happens if the system faults?
Q7: What Happened with the 525B Active Winglets?
Q8: What is the status of the NTSB investigation of the Indiana crash in November 2018??
Is Tamarack Open for Business? What’s going on with the company?
Tamarack is open for business! We secured several active winglet deposits during the AD, contingent on the restrictions being lifted, and we’ve been doing installations non-stop since the restrictions were lifted. These installations allow us to continue to operate normally, and we’re even beginning to recruit and hire again to resume our expedited winglet installation; and start to look at new winglet certification projects (announcements coming later this year).
Tamarack raised capital recently. What were the funds used for?
Tamarack was able to raise $1.95 million from a group of vendors, current customers, and some existing Tamarack shareholders who see the immense value of Tamarack and its IP. The money was initially used for paying off all prior secured debt, and the remaining funds now serve as a line of credit if needed for sustaining operations.
When will Tamarack emerge from Chapter 11 bankruptcy?
This June, the company entered Chapter 11 protection because it was unclear how long the restrictions would be in place. Chapter 11 allowed us to focus on supporting existing ATLAS winglet customers, and to support EASA and the FAA as they reviewed and finalized our proposal for lifting the restrictions imposed by the ADs. During this period, service and sales activities continued. We have been booking new sales and are scheduling installations now.
Now that the restrictions are lifted, Tamarack expects to be moving out of Chapter 11 later this year in a strong position.
Now that the fleet restrictions have been lifted, we’re composing our plan to emerge from Chapter 11. This plan will be submitted to the court late this month and it will have to be approved by the court and our creditors. If this process goes as expected, we will emerge from Chapter 11 later this year.
Have the ADs imposed by EASA and the FAA been completely resolved?
Yes, all customers impacted by the FAA and EASA restrictions are back in service.
FAA and EASA accepted Service Bulletin 1480 as the means to lift the flight restrictions. Service Bulletin 1480 simply calls for incorporating all existing product improvements. These improvements were available to the fleet at no charge before the ADs came into effect, but had not been widely adopted, despite our recommendations.
Will Tamarack continue to maintain and upgrade their technology in the future?
Yes! Tamarack is a small, proactive, safety-conscious group of aviation experts. We are always looking for ways to improve our products and our customers’ experience. We will continue to offer maintenance, fleet support, and enhancements to our Active Winglet technology; and to develop exciting new innovations for the aviation market.
We believe in our product so we have provided all customer impacted by the AD with a 24 month supplemental warranty which is above and beyond the warranty they received when the initially bought their active winglets.
Are Active Winglets safe? What happens if the system faults?
Active Winglets are safe! Remember in the early days of airbags when there were questions about the safety of that technology when it was novel? History has shown the airbag to be a significant improvement in automotive safety.
As an innovative technology, the Active Winglet modification was rigorously tested by EASA and FAA during certification – including actual flight test of many failure conditions. All critical failure conditions have been flight tested and shown that a pilot of average skill and strength can recover safely. A critical system failure is simulated in this video and you can see it is an easily managed event: https://tamarackaero.com/insights/2019/07/03/failure-mode-flight-testing
In early 2019 we made improvements that reduce the severity of active winglet failures. In the unlikely event that the system faults, we added centering strips (now installed on all active winglets). These centering strips aerodynamically force the TACS back to their faired position. Tamarack has posted a video demonstration of this feature at https://tamarackaero.com/insights/2019/05/24/asymmetric-tacs-failure-video
We are actively selling and installing winglets on the CJ3 and CJ3+.
There was a 12 month period beginning in April of 2018 where we held off on selling and installing winglets for these models while we investigated some early customer feedback.
Click Here for more of the story, and details on where things stand today.
What is the status of the NTSB investigation of the Indiana crash in November 2018?
The NTSB investigation of the Indiana crash in November 2018 is ongoing. We’re all familiar with how long these investigations take. Tamarack is supporting the NTSB investigation, along with Textron Aviation other manufacturers with equipment installed on N525EG. We look forward to NTSB publishing the final factual report.