LOBO President's Update - Lancair Aerospace

[Admin]

All, reposting George Rosel's Lancair Aerospace update to LOBO members.

"On Wed, 16 April, George Rosel and Bob Pastusek, with Kim Lorentzen as our invited expert, met with Augustine Joseph and Mike Patel, the co-owners of Lancair Aerospace, in Sacramento, CA. Mr Mark Velasquez attended as Augustine’s legal representative. LOBO requested this meeting to offer our assistance in improving parts and service support to current Lancair owners. We specifically asked for more active support from Lancair Aerospace in keeping our members' aircraft flying and in maintaining their resale value.

The Lancair Aerospace owners acknowledged personal differences in how the company should be managed, but both agreed the current practices were reducing rather than improving the value and good name of Lancair.

It would be counterproductive to discuss the details or speculate on any outcome at this time, but LOBO offered alternatives and agreed to act as an impartial advisor to the process. We closed the meeting amicably and the owners are now considering our suggestions.

We’ll provide updates on this as the situation warrants and are hopeful we can help the owners find a better way ahead!

George Rosel
LOBO President"

[SHANE O'DAY]

Thank you for updating us, its good to hear discussions are happening.