Pacific Aerospace financial problems described as ‘tragic’

The financial problems facing Hamilton’s aircraft manufacturer are being described as tragic.

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Pacific Aerospace has told the Civil Aviation Authority that it is insolvent.

The authority has ruled that its 108 planes can continue to fly while issues concerning the company’s certification are worked through.

Deputy Mayor of Hamilton Geoff Taylor said the company has been a fixture in the region for decades.

“2007 they celebrated 600 aircraft and the first iteration of the company I think was way back to the 1950s so they go way back and they’re a great source of pride in Hamilton.”

Taylor said although it’s early days, the council will do what it can to support the business and its employees.

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