Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing on October 20 revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.
Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing late last month revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.
San Antonio-based Emivest Aerospace, manufacturer of the SJ30 light jet, announced on October 20 that it petitioned for restructuring under Chapter 11 of the U.S. bankruptcy code. Under the plan, Emivest Aerospace will continue to operate normally with debtor-in-possession financing. The company said it will continue to support the four customer aircraft that are being operated in the U.S. and internationally.
Eclipse Aerospace (Booth No. 6667) has risen like a Phoenix from the ashes of the bankruptcy of the original Eclipse Aviation, with a focus on helping the owners of the 260 Eclipse 500s keep their airplanes flying safely and efficiently and a goal of eventually restarting the EA500 production line.
Raisbeck Engineering of Seattle, Wash., today named Mike McConnell president. James Raisbeck, the company’s founder, remains as chairman and CEO. Immediately before joining Raisbeck, McConnell spent seven years with Eclipse Aviation, where he was president and general manager of the company’s customer division.
I’ve been waiting quite some time to fly the Eclipse, a dozen years in fact, since the then revolutionary very light jet (VLJ) was first announced in 1998. The term very light jet–originally coined to describe the Eclipse specifically–came to be applied to a number of small jets, although a precise definition seemed to depend upon an aircraft manufacturer’s marketing department at any given time.
Since buying the assets of bankrupt Eclipse Aviation last year, Eclipse Aerospace has resumed all the modification programs necessary to bring the EA500 very light jet to its latest airframe and avionics configurations and launched campaigns to fix continuing problems. The most recent is a windshield modification that helps dissipate precipitation static.
In a forum at this year’s AirVenture in Oshkosh, Wis., Eclipse Aerospace chairman and president Mason Holland pulled no punches with the crowd of some 40 owners who’d gathered to hear the latest details about the company and its progress to complete the list of items necessary to upgrade every Eclipse 500 to Version 1.7. “This airplane has been the soap opera of aviation for the past 10 years,” said Holland.
The Eclipse 500 very light jet has been a business aviation icon for much of its troubled life but the program is still very much alive, according to Eclipse Aerospace co-founder and executive vice president Mike Press.
Eclipse Aerospace (Booth No. 1235) and Spanish charter operator Jet Ready will launch the first European air-taxi service using the Eclipse 500 very light jet (VLJ) here at EBACE tomorrow.