ABOVE: “I look forward to speaking to you soon to update you on our progress,” concluded founder Richard VanGrunsven
Vans Aircraft, manufacturer of the popular RV kit-build aircraft series, has announced a so-called ‘recovery plan’ to address serious cash-flow issues threatening the company.
Speaking directly to ‘the builders and owners of Vans kits and airplanes’ in a YouTube video, company founder Richard VanGrunsven explained that “due to a number of factors, Vans is facing serious cash flow issues that must be addressed for ongoing operations”.
“We are confident we can work through this situation, but some changes are required,” he added; noting that the next few weeks will be occupied by a period of focused internal assessment (aided by a small team of experienced advisors) evaluating “inventory, production and shipping capabilities, and overall operating efficiencies”.
Vans will also be evaluating “all reasonable means of satisfying builder concerns concerning laser-cut parts and formalizing [their] programme of getting parts to builders”. Intended as a means of boosting production, the switch to laser-cut parts was not a successful one, with certain items manufactured from February to June 2022 prone to cracking. Although the use of laser-cut parts has since been discontinued, some builders still require replacement components. Vans notes the assessment team is working to finalize the replacement programme.
While the next fortnight’s assessment is ongoing, Vans explains that the shipment of kits may be delayed, kit orders will not be processed, and adds that refunds will not be issued until the cash situation improves. In a ‘permanent change,’ builder technical support will also only be available from 8:00-9:30 and 15:00-16:00 each working day.
IMAGE: VANS AIRCRAFT
