Sport Pilot Talk

Roger · Joined: 22 Jun 2006 Posts: 100

I heard that REMOS went into the German equivalent of receivership last week. It's amazing they lasted this long with the amount of money they've spent while hardly selling any airplanes.

Anyone else heard anything?

Roger

KSCessnaDriver · Joined: 25 Jan 2009 Posts: 159 Location: KOJC

Edit: Sorry I came out swinging on this one. I looked around and couldn't find anything, but the later posts showed there was something. I apologize for that.

Still, hardly fair to criticize their expenditures, considering you've got no hard information on that.

dstclair · Joined: 06 Mar 2008 Posts: 212 Location: Allen, TX

Just because Roger owns a CT, doesn't mean he's not correct.

Might need to touch up on your German:

https://www.insolvenzbekanntmachungen.de/cgi-bin/bl_aufruf.pl?PHPSESSID=8e03a898ed7af6de2b06557a330c686d&datei=gerichte/by/agmuenchen/09/1508_IN_4024_09/2009_12_01__09_19_38_Sicherungsmassnahmen.htm

From FreeTranslation.com:

Business number: 1508 IN 4024/09
(Bitte always indicate)
Munich, 30.11.2009

Decision

In the procedure over the own proposal on opening the
Bankruptcy proceeding of that

REMOS Aircraft gmbh aircraft construction, Ottostr. 4, 80333 Munich
legally represent through
Manager Corvin strokes, Munich
Manager de. Michael Meirer, Munich

- Debtor -
The district court Munich is gem. § 3 paragraphs 1 sentence 2 InsO
locally responsibly, there as a midpoint of the economic
To look at activity the place is, at that the entrepreneurial
Lead decisions encountered will have. the debtor to be sure
your statutory seat in Pasewalk, where also that
Production takes place lies. the economic midpoint
however in Munich.
The entrepreneurial decisions become exclusively in
Munich encountered.

1. To the security of the debtor fortune before disadvantageous Ver-
changes becomes in accordance with § 21 Abs. 1 and 2 InsO at the 30.11.2009
around 14.00 clock

preliminary insolvency administration

arranged.

To the preliminary insolvency administrator becomes ordered:

Lawyer Axel W. beer stream, Schwanthalerstr. 32, 80336
Munich, telephone: 54511-0, fax: 54511-444

2. It becomes in accordance with § 21 Abs. 1, 2 Nr. 2 InsO

arranged, that decrees of the debtor only with Zustim-
mung of the preliminary insolvency administrator are effective.

CharlieTango · Posted: Tue Dec 08, 2009 11:07 pm Post subject:

KSCessnaDriver wrote: ...Still, hardly fair to criticize their expenditures, considering you've got no hard information on that.

roger is talking about their level of advertising. they have had long time massive exposure in all of the flying magazines. remos has had a level of exposure far beyond any other SLSA. it never made sense to me either.

KSCessnaDriver · Joined: 25 Jan 2009 Posts: 159 Location: KOJC

CharlieTango wrote: KSCessnaDriver wrote: ...Still, hardly fair to criticize their expenditures, considering you've got no hard information on that.

roger is talking about their level of advertising. they have had long time massive exposure in all of the flying magazines. remos has had a level of exposure far beyond any other SLSA. it never made sense to me either.

I would agree with that, but that said, typically with volume comes some discounts. But honestly, they do probably advertise too much. The AOPA deal may draw a lot of people who aren't familiar with the LSA concept as some people, and could really help Remos a bunch.

Roger · Joined: 22 Jun 2006 Posts: 100

I don't wish bad luck on anyone, and I as much as anyone want the LSA category to succeed but I will admit REMOS has always bothered me by leading folks to believe they were selling planes hand over fist when in realty they weren't and aren't.

There's not a lot of margin at this level of aircraft business and all the advertising they were doing made little sense to me. Especially in the hard economic times we are experiencing right now. The payoff just isn't there.

It's a tough new business with lots of lessons to be learned - progress to be made and progress to be lost. I personally love the LSA category and industry and hope whatever happens with REMOS that it ends up with little adverse effect on the industry as a whole.

Roger H

KSCessnaDriver · Joined: 25 Jan 2009 Posts: 159 Location: KOJC

So, are you trying to imply that you believe the Remos owners will be abandoned and the company will close up shop for good? Many airplane company's have been through bankruptcy's in the past, and still survive.

Roger · Joined: 22 Jun 2006 Posts: 100

KSCessnaDriver · Joined: 25 Jan 2009 Posts: 159 Location: KOJC

Roger wrote: Nope

Fair enough then. I have no doubt that they'll remain as one of the better, if not the best, LSA out there.

Roger · Joined: 22 Jun 2006 Posts: 100

December 9, 2009

Remos Restructuring Manufacturing Arm
Email this article |Print this article
By Russ Niles, Editor-in-Chief

Remos Aircraft, which has been aggressively marketing Light Sport aircraft in the U.S. of late, will issue a statement later today concerning restructuring of its German manufacturing business. The company filed a notice of insolvency (definition - PDF) with German authorities 10 days ago but that's not as dire as it sounds according to Ken Weaver, executive vice president of marketing and communications for the three companies that make up the Remos group. In fact, he said, it's the foundation for the development for new programs that will be announced in 2010. "This is not a bankruptcy," he said. "It is a procedural option that is open to us under German commercial law that will allow us to launch these programs in 2010." Legal considerations prevented him from providing more detail in time for AVweb's publishing deadline.

Weaver said the move allows Remos to make changes to its corporate structure necessary to carry out its future plans. He said there is no equivalent in U.S. commercial law so the action has been misinterpreted as a collapse of the company. Weaver said that, in fact, the restructuring will lead to even greater accessibility to its products in the future as part of a resurgence of interest in general aviation. AOPA chose a Remos light sport aircraft as its sweepstakes prize for the coming year.

AZPilot · Joined: 25 Jun 2009 Posts: 156

Roger wrote: December 9, 2009

Remos Restructuring Manufacturing Arm
Email this article |Print this article
By Russ Niles, Editor-in-Chief

Remos Aircraft, which has been aggressively marketing Light Sport aircraft in the U.S. of late, will issue a statement later today concerning restructuring of its German manufacturing business. The company filed a notice of insolvency (definition - PDF) with German authorities 10 days ago but that's not as dire as it sounds according to Ken Weaver, executive vice president of marketing and communications for the three companies that make up the Remos group. In fact, he said, it's the foundation for the development for new programs that will be announced in 2010. "This is not a bankruptcy," he said. "It is a procedural option that is open to us under German commercial law that will allow us to launch these programs in 2010." Legal considerations prevented him from providing more detail in time for AVweb's publishing deadline.

Weaver said the move allows Remos to make changes to its corporate structure necessary to carry out its future plans. He said there is no equivalent in U.S. commercial law so the action has been misinterpreted as a collapse of the company. Weaver said that, in fact, the restructuring will lead to even greater accessibility to its products in the future as part of a resurgence of interest in general aviation. AOPA chose a Remos light sport aircraft as its sweepstakes prize for the coming year.

Hotlink to the referenced PDF for clarity

http://www.abiworld.org/committees/newsletters/international/vol1num3/ReorgEuroUnion1.pdf

seastar · Joined: 27 Oct 2008 Posts: 63

It's not suprising that some of the LSA companys would be in financial trouble.
With the world wide recession even tne established GA aircraft companys are in trouble.
Look for more to bite the dust.
No one is immune.

AZPilot · Joined: 25 Jun 2009 Posts: 156

Further info from the REMOS.com website

NEWS RELEASE
2009 December 10
FOR IMMEDIATE RELEASE:
REMOS STRENGTHENS ITS CAPITAL BASE
Pasewalk, Germany – REMOS Aircraft has received an additional significant investment and has broadened its capital base. This was announced today by the management of the German aircraft manufacturer. With this new capital injection, REMOS Aircraft goes strengthened into the year 2010.

REMOS Aircraft succeeded in strengthening its leadership in the LSA segment despite the challenges presented by slow demand in the aviation industry, particularly in the U.S. market. “With the highest growth rates in the industry, meanwhile dominating the LSA segment, and with significant progress in building our marketing and sales organization, we have reached the goals we had set ourselves for the year 2009”, said Michael Meirer, member of the executive board and responsible for the U.S. market.

The steps initiated by the two main shareholders, the Faerber Group of Munich, Germany, and the London investment house Pall Mall Partners, in cooperation with the REMOS management, secure the future of REMOS Aircraft and enable the introduction of new programs through which the company will be able to address new customer segments.

Company Summary: REMOS Aircraft is the world’s leading manufacturer of Light Sport Aircraft. Founded in 1994, REMOS is an international aerospace manufacturing company with operations in the Europe and North America. REMOS’ flagship product

FastEddieB · Joined: 07 Jan 2009 Posts: 207 Location: Mineral Bluff, GA

When I was deciding on my Sky Arrow, one factor was this:

Many of the other manufacturers were new or nearly so. But 3i? Since 1947!!! Must be doing something right!

But even that was no guarantee - 3i is in some sort of Italian bankruptcy, though still in business.

So it goes...

glyn · Joined: 12 Jul 2006 Posts: 120 Location: Texas

Same can be said about Tecnam. they have been building since around 1945 or so .