Story ID: 157
Tamarack Emerges from Bankruptcy after Court Approval
By: Jerry Siebenmark
Caption: The manufacturer of active load-alleviation system (Atlas) winglets entered Chapter 11 bankruptcy last June.
Word Count: 224
Tamarack Aerospace Group’s plan of reorganization has been approved, allowing the Sandpoint, Idaho-based manufacturer of active winglets to emerge from bankruptcy. The plan approved by the U.S. District Court for Eastern Washington calls for repayment of all creditors in full and affirms that the Tamarack shareholders remain intact, the company said last month.

"We continue to make significant progress in the reorganization as well as our general growth,” said Tamarack president Jacob Klinginsmith. “We have made a number of strategic changes to the business which have made us more resilient. Entering the voluntary bankruptcy was a difficult choice, but in the end, it has made us an even stronger company.” Tamarack announced its voluntary bankruptcy filing on June 7 following airworthiness directives (AD) from the FAA and European Union Aviation Safety Agency (EASA) that grounded Cessna CitationJets, CJ1s, CJ2s, and CJ3s equipped with its active load-alleviation system (Atlas) winglets. A month later, EASA lifted its AD followed by an FAA alternative method of compliance.

As Tamarack worked through the reorganization, it completed its 100th active winglet installation and recently added four new partners to its installation and service network, bringing the total to 20. Tamarack also noted it’s been meeting with the military, commercial airlines, and airplane OEMs about its active winglets.
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