A $40 million offer by Eclipse Aerospace, a company formed to purchase the assets of Eclipse Aviation, has been accepted by the court-appointed trustee in the Eclipse liquidation proceedings, indicating a likely sale of the very light jet manufacturer nearly nine months after the company declared bankruptcy.
The bid, consisting of $20 million in cash and $20 million in notes, will become the starting point for an auction expected to take place before the end of August.
Although bids from Russian and Chinese investors are expected in the auction, the interest could prove inconsequential if lawmakers, as expected, request a review of whether such bids could prove detrimental to national security given the technologies and equipment used to construct the Eclipse 500 very light jet.
Failing an acceptable higher bid, Eclipse Aerospace principals, Eclipse 500 owner Mike Press and order holder Mason Holland, say they will install a senior management team at the company's headquarters in Albuquerque to begin servicing, upgrading and refurbishing existing aircraft and investigating the feasibility of getting production restarted.
Of the 260 aircraft delivered, about 200 continue to fly, with the trustee holding the type certificate and funding a small group of former Eclipse engineers in Albuquerque. Service is being provided by third parties staffed by former Eclipse mechanics, although owners say components are scarce, with up to 20 aircraft grounded due to parts needs.
Source: Flight International
