BOEING 737 MAX SPARE PARTS SUPPLIER DECLARED BANKRUPTCY

Impresa Aerospace, which supplied the spare parts for the aircraft body to Boeing, has filed for bankruptcy in Delaware County. The California-based company, represented in court by the Morris, Nichols, Arsht & Tunnell Lawyer’s Office, stated it has $ 22.6 million in secured and $ 3.6 million in unsecured debt.

The reason for the insolvency was the pandemic and the ban on flights of Boeing 737 MAX airliners, caused by disasters in Indonesia and Ethiopia in 2018-2019, as a result of which 346 people were killed. Subsequently, it was found that the cause of the takeoff accidents was an error in the MCAS automatic maneuvering systems, installed on the aircraft of this series. As a result, the international operation of the liners of this model in the USA, EU countries and Russia was suspended.

Despite the fact that the corporation's engineers later had to change the operation of the on-board systems, and the liners themselves passed the necessary tests after the modernization, the ban on their use has not been lifted. This became the reason for the ruin of the contractor companies that supplied spare parts and accessories for this type of aircraft.

For Impresa Aerospace, the supply of the spare parts for Boeing was the main source of income. Experts report that now all the company's assets can be transferred to a private investor represented by the Twin Haven Capital Partners. The estimated transaction amount is $ 10 million.

The Boeing Corporation itself is undergoing restructuring. The aircraft manufacturer is trying to cut costs amid the pandemic, which has exacerbated financial problems caused by the air crashes. In May 2020, the company laid off about 12,000 employees, 6,770 of whom were dismissed due to the spread of COVID-19.