After no other bids emerged for the assets of Albuquerque, N.M.-based Eclipse Aviation, a federal bankruptcy judge on August 20 approved the $40 million offer from Eclipse Aerospace for the former builder of Eclipse 500 very light jets. According to Mason Holland, president and CEO, Eclipse Aerospace is hiring staff and the company’s first order of business is to get parts flowing to owners, followed by performing modifications and upgrades to existing airplanes and buying airplanes to refurbish and resell “like new and with a limited warranty.” Holland hopes to bring the EA-500 back into production in about six to 18 months, depending on the economy and demand. “Our focus is on profitability, not growth,” he said.
Eclipse Rises Again in Albuquerque
- August 25, 2009, 7:17 AM