Following months of unsettling developments and threatened eviction, New Mexico-based Eclipse Aerospace has reached an agreement with city officials to maintain its presence at the Albuquerque International Sunport (ABQ) as the company works to restructure its operations.
According to documents obtained by AIN, Citiking International US LLC remitted payment of $1,081,657.21 to the city at the end of May, settling all back rent, fees and related charges against Eclipse dating back to last year.
That total also included June 2018 rent and a two-month security deposit on three buildings now occupied by the company for maintenance and support of the Eclipse 500 and 550. The agreement further stipulates that revised leases on those facilities be sent to the Albuquerque City Council by August 31 for consideration.
"It is intended that this Agreement shall be assumable by [Eclipse] through May 2019 pursuant to a bankruptcy proceeding," the settlement continues.
Online records indicate Citiking incorporated in Delaware seven months ago. One Aviation—formed in 2015 through a merger between Eclipse and Kestrel Aircraft—is not named in the settlement, and inquiries to Eclipse representatives were not returned by deadline.
In addition to continuing operations at ABQ, earlier this month Eclipse opened a new maintenance facility at Aurora Municipal Airport (ARR) following an agreement to vacate its former operation at Chicago Executive Airport (PWK) at the end of May.