Eclipse Aviation secured a new source of financing from Etirc Aviation that resulted in sale of a minority stake in Eclipse to the new investors. The deal also includes a second assembly line in Russia scheduled to begin operating late next year.
Eclipse Aviation president and CEO Vern Raburn announced yesterday that Etirc Aviation is deepening its partnership with Eclipse with an equity investment of more than $100 million, an agreement to add countries to Etirc’s Eclipse 500 sales and support network and the right to manufacture the very light jet within its expanded network area. According to Raburn, the new funds will help the company continue its growth in New Mexico.
Now that the Avio NG avionics have been certified, Albuquerque, N.M.-based Eclipse Aviation is ready to tackle the promised upgrades for in-service Eclipse 500s without the updated avionics suite, new wing de-ice boots, aerodynamics modifications and other “minor upgrades.” In a posting on the Eclipse 500 Owners Club Web site, Eclipse vice president of ownership experiences John Ricciardelli said the first aircraft to be retrofitted (S/N 28) i
The termination of the agreement between Eclipse Aviation and Williams International, announced the day before Thanksgiving, is seen as a major setback for the Eclipse 500 very light jet program by many observers– particularly (and predictably) by the battalions of skeptics who have questioned the viability of the program since it was revealed in March 2000.
Eclipse Aviation rang in the New Year by announcing that it produced and certified 103 Eclipse 500s last year, and the manufacturer delivered all but a handful of these very light jets before the ball dropped in Times Square on Monday night.
A jury has ruled in favor of Innovative Solutions & Support in a lawsuit against Kollsman and other parties stemming from allegations of stolen air-data computer technology.
On December 20, Eclipse Aviation announced that it had received FAA certification of the Avio NG avionics and systems control suite for the Eclipse 500 VLJ.
The City Council of Albuquerque, N.M., has approved a $45 million industrial revenue bond package to help Eclipse Aviation deliver on its Eclipse 500 very light twinjet. The Associated Press reported that the deal will give Eclipse a property tax abatement worth more than $777,000 over 10 years.
In a December 13 amendment to Pogo Jet’s S-1 registration statement for its initial public stock offering, the company provided more information about its planned very light jet (VLJ) charter service. As it has said before, Pogo will use Eclipse 500s in a whole-airplane charter service headquartered at Westover Municipal Airport in Chicopee, Mass.
Eclipse Aviation has accelerated its production schedule for the Eclipse 500 very light jet by seven months and announced plans for its customer-support network, an in-house program that would ultimately include seven centers. That would place a shop within one-and-a-half hours’ flying time from any U.S. Eclipse operator’s home base, the company said.