Thielert Woes Spell Trouble for Diamond and Cessna

Aviation Aviation News
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From the Flying e-newsletter

Thielert Woes Spell Trouble for Diamond
and Cessna
Thielert Aircraft Engines stock has plummeted to near worthlessness, causing Austrian-based Diamond Aircraft and, to a lesser degree, Cessna to face an uncertain future for their diesel-engine projects. Thielert, a German manufacturer of diesel aircraft engines (used on the Diamond Twin Star and a version of the Cessna 182) has dismissed company founder Frank Thielert and the company chief financial officer following accusations of criminal financial wrongdoing. Following a now-ongoing formal insolvency process, a new executive board must be assembled and an interim trustee appointed for the company to continue operations.

This, coupled with their apparent bad reliability as mentioned in this thread before it was hijacked, could very well spell the end for Thielert

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More news regarding Thielert:

Thielert Administrator Optimistic for
Company’s Revival
The overseer of Thielert Aircraft Engines’ insolvency has expressed his hope that with enough investor interest, the company might survive as a going concern, rather than dissolving. The German manufacturer of diesel aircraft engines, and its parent group, filed for insolvency earlier this year following accusations of criminal bookkeeping by its founder, Frank Thielert. Thielert engines power the Diamond DA42 TwinStar and were to have powered a version of the Cessna 172 Skyhawk, but Cessna has suspended plans to deliver any Thielert-powered aircraft pending outcome of the insolvency proceedings.