Eclipse Aerospace, headed by Eclipse 500 order holder Mason Holland and Eclipse 500 operator Mike Press, signed an asset purchase agreement July 31. Unless new bidders emerge or other complications arise, the $40 million deal to purchase the assets of the defunct manufacturer could be completed in a few weeks. Immediate goals for Eclipse Aerospace include resuming the flow of replacement parts; introducing a refurbishment program for used Eclipse 500s with an eye toward sales; offering modifications of Eclipse 500s at the factory in Albuquerque and also at a service center in Chicago; and finally, continuing a probe into whether it can be financially feasible to resume production of Eclipse 500 Very Light Jets.
Apparent Winner in the Eclipse Chapter 7 Bidding
Key Takeaways:
- Eclipse Aerospace, led by Mason Holland and Mike Press, has signed a $40 million agreement to purchase the assets of the defunct Eclipse 500 manufacturer.
- Immediate goals include resuming the supply of replacement parts, introducing a refurbishment and sales program for used Eclipse 500s, and offering modifications at their factory and a service center.
- The company will also investigate the financial feasibility of restarting production of the Eclipse 500 Very Light Jet.
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