Just five months after celebrating the delivery of its first new-build Eclipse 550 light jet, Eclipse Aerospace laid off a “substantial” number of employees at its Albuquerque, N.M. headquarters and facilities in Chicago and Charleston, S.C., citing slow sales for its very light jet.
On the eve of EAA AirVenture 2014, aviation analyst Brian Foley released summaries of two key areas affecting the general aviation industry: investment capital and engine technology.
On the capital front, Foley said that there is no shortage of investors who are willing to put money into general aviation companies. However, there is a shortage of what these investors are seeking–entities that actually make money, that is, “a good $20 million in annual revenues and $5 million in profits known as Ebitda [earnings before interest, taxes, depreciation and amortization].
For the second time in less than a month, a major Internet-related company has acquired a firm developing a high-altitude, long-endurance (HALE) unmanned aircraft system (UAS), which could serve as a node to provide Internet connectivity from the stratosphere.
Eclipse Aerospace of Albuquerque, N.M., delivered its sixth Eclipse 550 light twinjet this week at the Sun ’n’ Fun Fly-In in Lakeland, Fla. Purchased by an undisclosed customer in Chicago, the aircraft is on display throughout the show, which closes on Sunday evening. The Eclipse 550 was certified on February 28 and the first copy was delivered on March 12. “We think we can produce, sell and deliver 16 to 20 [550s] this year, and we’d like to do more than that in the future,” said Eclipse CEO Mason Holland.
UAV start-up Titan Aerospace of Moriarty, N.M., yesterday named former Eclipse Aviation CEO Vern Raburn as its chairman and CEO. Originally a Microsoft executive, Raburn founded Eclipse, manufacturer of the Eclipse 500 very light jet, in 1998. He stepped down from the company in 2008 before it entered bankruptcy, and it later re-emerged from bankruptcy as Eclipse Aerospace.
Eclipse 500 upgrades announced yesterday by Albuquerque, N.M.-based Eclipse Aerospace promise to bring long-pledged safety equipment and performance capabilities to the original very light jet. The new Safety Enhancement Package (SEP) will also remove the last of the “INOP” stickers present in Eclipse 500 cockpits since the former Eclipse Aviation delivered its first customer aircraft nearly seven years ago.
Eclipse Aerospace powered up the first production Eclipse 550 very light jet at its Albuquerque, N.M. facility, the company announced yesterday. An Eclipse spokesperson told AIN the process entailed “a normal power on of both [Pratt & Whitney PW610F turbofans] and all aircraft systems.”
For the first time in more than four years, new aircraft have emerged from the former Eclipse Aviation final-assembly facility in Albuquerque, N.M. Two unfinished airframes left on the assembly line when that company declared bankruptcy in November 2008 were recently completed by the resurrected company, Eclipse Aerospace, and outfitted as factory-new Total Eclipse twinjets.
This formation of 27 Eclipse light jets was part of a larger group that descended on Branson Airport in Missouri for the Eclipse Owners Club Fall Fly-In last month. Forty-three of the twinjets met up in what was one of the largest gatherings of the same model private jet ever to land on a field at one time. Eclipse Aviation built 261 of the EA500s before it went bankrupt in 2008. Eclipse Aerospace, which acquired the company’s assets, announced it has restarted production with deliveries of the updated Eclipse 550 expected next year.
It’s been a bit more than three years since Eclipse Aerospace was awarded the assets of bankrupt Eclipse Aviation in August 2009, not quite enough time, perhaps, to fully separate conversations about the former from the mixed record of its predecessor, but Mason Holland, CEO of Eclipse Aerospace, told AIN the company is weary of “Phoenix rising from the ashes” stories and declared it has made considerable progress updating a
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