Apparent Winner in the Eclipse Chapter 7 Bidding

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.

Mark Phelps is a senior editor at AVweb. He is an instrument rated private pilot and former owner of a Grumman American AA1B and a V-tail Bonanza.

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