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 Post subject: Re: Lancair ceasing operations
PostPosted: 29 Oct 2017, 12:48 
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What if he had a heart attack? Indications that it was not depressurization. The scrambled fighter pilot saw him slumped over but noted no fogging or icing of the windows.


Well, then it's obviously not pilot's "fault", but the root cause is still the pilot and it should not negatively reflect on the airframe, which is what we are talking about here.


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 08 Nov 2017, 01:05 
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Yesterday I went to Evolution Aircraft and picked up some parts. It was lunch time but at least the 3 employees I dealt with were there. Lot of cars in the parking lot for a supposedly "dead" company.


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 Post subject: Re: Lancair ceasing operations
PostPosted: 08 Nov 2017, 01:18 
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What this report doesn't say is the pilot (Josh) also lost the engine so essentially he dead sticked it in from 25,000 ft. Impressive as hell.
Less impressive is that he didn't even attempt the backup gear extension procedure. And the avionics data logs dispute his claim that he lost the engine, which is likely why the NTSB report doesn't mention it. A pretty huge detail for the NTSB to leave out, wouldn't you think, if it happened?


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 02:06 
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Three more employees of Evolution Aircraft were laid off this week, from avionics and parts. The company is still showing a pulse but it's weakening.


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 15:10 
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Three more employees of Evolution Aircraft were laid off this week, from avionics and parts. The company is still showing a pulse but it's weakening.


Dave

Just being cynical, what do you do if you show up and the doors are locked and your asset is stuck on their premises?

How bad can this get for the remaining builders?


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 17:10 
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How bad can this get for the remaining builders?


Creditors force bankruptcy. Sheriff padlocks doors. Recovering plane takes months and/or thousands in legal fees. I believe something like that happened to Epic at one point.


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 17:40 
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what do you do if you show up and the doors are locked and your asset is stuck on their premises?
For me, it would be only money. I've gotten all the EAC-supplied parts that would be tough to source elsewhere, like the landing gear. All they still owe me are generic parts I could buy elsewhere if I had to, such as a hydraulic pump and avionics.
Quote:
How bad can this get for the remaining builders?
In the factory build area I saw 3 fuselages, not being worked on, I believe those are EAC's unsold inventory.
Attachment:
IMG_20171106_131037598_BURST000_COVER_TOP.jpg
One is #92, assuming the others are #91 and #93, all previous builders already have their airframes and the 4 builders after me may still be owed some EAC-specific parts.
Attachment:
IMG_20171106_131043217.jpg
How we builders would fare depends on what happens to the company. In the owner's preferred scenario someone injects money for a part-ownership, leaves him in charge and we wouldn't lose anything. I don't see that happening. His second choice is for someone to buy him out, which would still be good for us, but he's asking more than anyone so far has been willing to pay. Maybe they'll narrow the gap and come to terms. If not, the bidders plan to buy the company out of bankruptcy. That's the worst scenario for us, likely we'd get nothing. It's also the most likely, IMHO.


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 20:07 
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Creditors force bankruptcy. Sheriff padlocks doors. Recovering plane takes months and/or thousands in legal fees.
All paid-for planes are already gone, not still at the factory. AFAIK, of the 3 planes left at the factory, 2 had deposits paid on them, in case of bankruptcy those 2 owners would be out the most.


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 20:36 
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What would you guess the fire sale price of those remaining airframes is? Is it possible to get one for $200K as a complete kit? Is it possible to assemble one of these on your own like a traditional homebuilt or is this impossible?


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 Post subject: Re: Evolution Aircraft ceasing operation
PostPosted: 16 Nov 2017, 22:37 
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What would you guess the fire sale price of those remaining airframes is? Is it possible to get one for $200K as a complete kit?
No. I have personal knowledge of an offer to buy one for $20K off list price that EAC declined. That said, two of the airframes exist because buyers paid the deposit then didn't complete the sale due to personal circumstances. Each of them is already out more than $200K with nothing to show for it, you might be able to buy one of them out of his position and pay off the rest due EAC to wind up with a kit at a substantial discount.
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Is it possible to assemble one of these on your own like a traditional homebuilt?
Yes and no. The first week at the factory with the jigs and molds to close the wings etc. and align everything would be hard to do elsewhere. Everything after that is doable. But that's a better question for one of the build shops, http://www.evolutionaircraft.com/aircra ... t-centers/


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