Tamarack Aerospace Group, inventor and manufacturer of Active Winglets, has filed a Chapter 11 plan of reorganisation with the Eastern District of Washington. The filed plan includes repayment of all creditors in full and, once approved, will allow Tamarack to emerge from bankruptcy.

Tamarack sought bankruptcy protection on 1 June this year when the timing for resolving airworthiness directives (ADs) became uncertain. The ADs had grounded the Active Winglet fleet of 91 aircraft after an incident on April 13 2019. The grounding was resolved and worldwide Active Winglet operations resumed as of 10 July, following factual review by EASA, FAA, NTSB and the UK AAIB.

“We continue to make significant progress in the reorganisation. We have made a number of strategic changes to the business which has made us more resilient and we will emerge stronger and more viable than before,” states Tamarack president Jacob Klinginsmith. “In July we received approval to accept a significant investment for ongoing operations; but the continued Active Winglet sales have allowed us to recover financially and ultimately to present a very strong plan of reorganisation. The plan is testament to our financial health and viability, and we look for confirmation as early as end of the year.”