Eclipse Secures Another $38 Million in Private Funding
Eclipse Aviation, developer of the Eclipse 500 ultra-light twin jet, secured $38 million in financing last month, closing a third round of equity financing worth a total of $100 million ($62 million was secured last September). In all, the Albuquerque, N.M.-company has obtained $220 million in guaranteed funding from undisclosed private investors. FAA certification of the Eclipse 500 is scheduled for December next year, with first customer deliveries slated to begin in January 2004. Nimbus Group of Fort Lauderdale, Fla., announced last month it had received a commitment for $1.2 billion from the Royal Bank of Scotland International to finance the initial acquisition of 1,000 Eclipse 500 twinjets for its proposed air taxi fleet.