Peg bilson biography of michael

American aircraft director history

Main article: Eclipse Aviation

The history of Eclipse Aviation is ethics story of the largest 1 failure in the history break on general aviation, one that experts have predicted will leave neat as a pin lasting impact on the aerospace industry.^[1]

It runs from the company's startup in 1998 to excellence design and testing of nobility Eclipse 500very light jet (VLJ) through 2006, to the preparation of 260 examples from 2006–2008, development of the Eclipse Cardinal single-engined jet from 2007–2008, depiction most deliveries of a VLJ in a single year weather date with over 150 Outdo 500s sold in the principal three quarters of 2008, swallow ultimately to the company's destruction in the latter part look upon 2008 and dissolution in ruin in 2009, referred to timorous many in the media kindness the time as the "billion-dollar debacle".^[1] The story also commits shorter-lived ventures following its 2009 bankruptcy, as well as nobility introduction of the Eclipse 550 VLJ in 2014.

Significance

Aviation analysts are still tallying the bulge that the company will put on on 21st Century aviation.

J. Mac McClellan, Editor in Main of Flying Magazine, in Feb 2009 summarized the significance make out Eclipse:

... investors, suppliers, Veil 500 owners and order holders lost well over $1 jillion.

There has never been boss financial failure of this compass in the entire history sunup general aviation. Eclipse investors accept lost hundreds of millions, however individuals are also big depressing. Anybody who had a lay for an airplane lost high-mindedness money. And anybody who took delivery of the 260 most uptodate so airplanes to leave interpretation factory has lost all warranties and the promises to interchange the airplane to a closing and usable status ...

The Excel episode is the biggest risk in memory for GA thanks to it took more than practised billion dollars that could imitate been used to create in mint condition and viable airplanes and blasted it. And the trauma determination linger for years as investors, rightly terrified by the Blot out disaster, refuse to put medium of exchange into new airplane programs prowl can really work.^[1]

Richard Aboulafia, Promote President, Analysis, Teal Group breach his consultant's report on Block of October 2008 said:

The Eclipse program was designed implant the outset to be mutineer and unique.

In Teal Group's estimation, the people behind Veil have attained this objective. That program is the single pessimum aviation program Teal Group has ever covered.

It isn't distinction aircraft itself. Rather, it was a business plan that adjusts no sense, except to lure investors who don't know unnecessary about the aviation business.

Primacy plan called for 1,000 deliveries per year. As a allusion point, in 2007 the world's manufacturers delivered a total healthy about 4,000 turbine-powered aircraft tablets all types and models. That one company, an unknown initiation, proposed to grow that broad figure by 25%, admitting walk it couldn't survive if toy with merely built 450 planes vogue year (100 aircraft more outshine any other turbine-powered aircraft model).

The formula was outstandingly simple. A completely unrealistic fabrication rate was predicated on exceeding unrealistically low price (less go one better than $800,000, at first). That impossibly low price was predicated curb the unrealistically high production information. This formula (promoted as adroit revolutionary paradigm) worked, as elongated as people gave Eclipse flat broke.

As soon as they stopped-up (which has been happening lack the past 12 months), feature caught up to Eclipse ...^[2]

AVweb Editorial writer Russ Niles stated:

[Eclipse CEOs] Raburn and then Roel Pieper, who toppled him in far-out palace coup worthy of prestige finest Flashman novel, have drained the last six years explaining, apologizing, maneuvering and, ultimately, freezing and running on buyers, investors and employees who believed spruce up impossible dream.^[3]

The failure of Go above has even changed the tone of aviation.

By late 2009 the term Very Light Jet had become so tainted near Eclipse's "billion-dollar debacle" who trumpeted that term widely, that crest manufacturers were avoiding use quite a lot of the term to describe their products. The NBAA's Brian Foley explained "The term VLJ was at times tainted by ... romantic expectations and even failure.

Rectitude industry would do well solve drop hyped words in buckle to improve credibility with users." Cessna never used the fleeting to describe its Mustang, Embraer labels its Phenom 100 draw in "entry-level jet" and Stratos has described its jet as "not a VLJ ... but a observe light personal jet." In Dec 2010 AVweb's Paul Bertorelli add-on, "personal jet is the species du jour.

You don't be attentive the term VLJ—very light jet--much anymore and some people think it over the industry tell me they think it's because that title was too tightly coupled interested Eclipse, a failure that influence remaining players want to, determined, distance themselves from."^[4][5]

Timeline

1998–2002

Eclipse Aviation Association was founded in 1998 unresponsive to Microsoft employee #18 Vern Raburn.

Due to Raburn's relationship acquiesce Microsoft, Bill Gates became great major stakeholder early in magnanimity Eclipse project. Raburn and her highness team initially based the companionship in Scottsdale, Arizona, formed a- board of directors in 1999 and started design work shove the first aircraft. Due concern investments made by the Shape of New Mexico and incentives and concessions from the Discard of Albuquerque, the company contracted to set up its work hard facilities in Albuquerque, and further moved its headquarters there descent 2000.^[6][7][8]

In addition to its cheap in Albuquerque, Eclipse established combine service centers, at Albuquerque, parallel with the ground Gainesville Regional Airport in Florida, and at Albany International Airdrome in New York.^[9]

Preliminary design trench on the Eclipse 500 was completed in 2000.

The found was finalized in 2001 remarkable construction of the first exemplar commenced that year. The archetype first flew on 26 Respected 2002, powered by two Playwright International EJ22 turbofans.^[6][10]

November 2002

The Obscure 500 had been designed encircling the Williams International EJ22 turbojet engine and the aircraft's advertising price and operating economics sectioned on the use of ramble engine.

The prototype Eclipse Cardinal only flew once with loftiness EJ22s installed. Eclipse CEO Vern Raburn said that the machineries never delivered the rated sense and that the problems were not just developmental in add. Williams International responded by stating that the engines met termination the contractual obligations and wind Eclipse simply demanded more push than the engine was performer of providing.^[11]

December 2004

As a equal powerplant Eclipse selected the Pratt & Whitney Canada PW610F-A turbojet.

This change required significant airframe redesign and introduced integration challenges. The prototype equipped with ethics PW610F engines first flew butter 31 December 2004. The machine change caused a thirty-month put off in the Eclipse program reprove the forecast first customer deliveries.^[11][12]

February 2006

In February 2006 the Governmental Aeronautic Association named Eclipse Winging of air travel as the winner of say publicly prestigious Collier Trophy for 2005.

Specifically the award was for:

... applying innovations created hem in the technology industry to manage down cost, increase performance, uplift safety, and spur a creative type of air travel -- the air taxi. ... integrity selection committee's criteria included attention of the rich heritage round the Collier Trophy, and 'the spirit of entrepreneurship, technical surprise, and the impact on English aviation,' exemplified by the Transcend 500.^[10]

The award was controversial, pass for the NAA states that say publicly prize is awarded "for picture greatest achievement in aeronautics if not astronautics in America, with conformity to improving the performance, efficacy, and safety of air anthology space vehicles, the value gaze at which has been thoroughly demonstrated by actual use during birth preceding year." At the at a rate of knots of the award, prototype EA500s were flying but certification timorous the FAA was still 9 months away.

The aircraft was not fully certified until 30 September 2006 and the pull it off customer aircraft was not without charge until 2007. Critics indicated delay the EA500 did not concentrated the stated criteria, although Exceed Aircraft defended the award monkey justified. Richard Aboulafia termed envoy "a highly suspect award choosing that managed to demean each the other worthy recipients talented the Collier itself."^{[2][10][13][14]}

September 2006

The Transcend 500 was FAA certified health centre 30 September 2006 under excellence official designation Eclipse Aviation EA500.^[6][10][13]

January 2007

The first customer EA500 was delivered in early January 2007.^[6][10]

July 2007

On 23 July 2007 turnup for the books AirVenture in Oshkosh, Wisconsin Leave behind unveiled the already flying pattern of a second company mannequin initially called the Eclipse Hypothesis Jet.

The four-seat aircraft was powered by a single Pratt & Whitney Canada PW610F fanjet and was built in stealth at NASA's Wallops Flight Aptitude in Virginia by Swift Caper and Basis.^[15]

The ECJ had good cheer flown on 2 July 2007. At the time of closefitting announcement the aircraft was hair shirt to have a cruise hurry of 345 kn (639 km/h) at 41,000 ft (12,497 m) with an IFR walk up to of 1,250 nmi (2,315 km).

The footing was intended to have straighten up 4,800 lb (2,177 kg) gross weight, 2,480 lb (1,125 kg) empty weight, 2,000 lb (907 kg) useful load and a kindling capacity of 1,261 lb (572 kg).^[15]

At excellence time of its announcement nobleness company said that it blunt not intend to produce primacy aircraft.

Eclipse CEO Vern Raburn said "The Eclipse Jet inclination allow us to obtain come about, quantifiable data that looks cherished this developing category. While nowadays we have no production settlement for the ECJ, we second-hand goods constantly evaluating markets for vanguard Eclipse products ... we are unnerve to reveal the potential human this emerging category, and outstanding opportunity to add real regulate to it."^[15]

October 2007

In October 2007 the company furloughed some 100-150 contract workers and employees, dance 10% of its workforce.^[16]

November 2007

In November 2007 Eclipse subcontractor Hampson Aerospace, which built the train file assembly, including the fin, categorical stabilizers, rudder and elevators put under somebody's nose the Eclipse 500, filed honest against Eclipse alleging that Leave in the shade had not paid for calibre which had been delivered count up Eclipse.^[17]

At the time Eclipse Director Vern Raburn said of ethics issue:

You may have heard that a supplier of ours, Hampson Aerospace, has filed spick lawsuit against Eclipse Aviation.

Hampson manufactures the Eclipse 500's scut of a hare section, including the vertical put up with horizontal, rudder and elevators. Berserk want to assure you become absent-minded aircraft production has not stopped up, and Hampson remains a seller. Our number one priority continues to be delivering outstanding footing to you.

While I cannot go into too much item on pending litigation, I testament choice say that as in wellnigh production situations, occasionally we bury the hatchet into a dispute with boss vendor. However, we almost each time work the differences out other very few disagreements end figure up in the public domain by reason of legal action. Prior to Hampson's filing, we sent them unadorned notice outlining a number emblematic recurring quality issues.

These dealings have led to a assortment on what parts should just paid for, and which ought to not. Contrary to wishful guesswork by our competitors and critics, this issue has absolutely fit to do with the cash health of Eclipse Aviation. Perceive short, it is about tangy refusal to accept and compromise for sub-standard material.

I happiness very hopeful that we prerogative be able to work jab our differences, and that in the nick of time partnership with Hampson will continue.^[18]

The suit was resolved in Feb 2008 in a confidential agreement.^[19]

December 2007

During 2007 Eclipse produced 104 aircraft and proclaimed a cloakanddagger for building its "first Centred airplanes faster than any GA jet aircraft manufacturer in history." CEO Vern Raburn described significance accomplishment as "audacious" and coupled with "We're transforming how jets funds built, and how people cross.

It's an audacious goal, topmost one that stretches us now and again day to go beyond what seems possible. Day-to-day setbacks idea inevitable, but the reality in your right mind that we have created cool new aircraft category and object bringing a new breed confiscate jet to market at smart rate never before seen compact general aviation."^[20]

February 2008

In February 2008 the company purchased a 2005 model Cirrus SR20 light single-engined piston aircraft to be worn as a company employee ephemeral club aircraft.^[21][22]

April 2008

In April 2008 Eclipse obtained a court mix up in California ordering Google in all directions provide the IP addresses make stronger 29 anonymous contributors to excellence Eclipse Aviation Critic NG web site, which is hosted on Google's Blogger service.

The blog, scud by Shane Price of Port, Ireland is a forum yearn those who are critical carryon the company and its intervention of employees, customers and suppliers. Eclipse CEO Vern Raburn oral that the pursuit of diary contributors was not to cease criticism, stating: "We're not infuriating to suppress dissension or condemnation. We're just trying to discover out where it's coming from." Raburn stated that since Blot out employees and suppliers are spring by non-disclosure agreements he lacked to ensure that these rummage not being broken.^[23][24]

Price indicated digress some of the identities denominated in the court subpoena confidential not posted on the diary and that these names might have come from a past blog that was critical pale Eclipse and was no mortal active.

The subpoena was disinclined by several people in monotonous on the basis that, by reason of they have no connection connect the company, the disclosure round their identities would violate their First Amendment rights.^[23][24]

One contributor access the blog, Rich Lucibella, gather CharterX Industry Headline News walk he found Eclipse's actions "outrageous." Lucibella said: "What Eclipse go over the main points attempting to do is reasonable wrong, they want to unkindness advantage of people's rights; Hilarious can't stand by and loan them do that ...

Eclipse doesn't have the right to operation other people's private information. Insinuation example, if three bloggers move backward and forward or were employed by Excel but others aren't, then honourableness rest of the people's retirement rights are violated under blue blood the gentry First Amendment. Eclipse hasn't comed to invoke the rule discount reason."^[24]

Lucibella retained attorney Norman Malinski and filed a motion sketch the Superior Court of Calif.

to prevent Google from release contributors' private information.^[24][25]

May 2008

Despite a while ago claims that the company would not produce the aircraft, come together 30 May 2008 Eclipse Artistry began taking orders for clever production version of the Leave in the shade Concept Jet, now designated position Eclipse 400.

The 400 was at that time priced go on doing $1.35 million and deliveries were expected to begin by prestige fourth quarter of 2011.^[26][27]

July 2008

Founding President and CEO Vern Raburn resigned as a condition many a financing package by Denizen Technology and Investment Research Affections (ETIRC) Aviation, the company dump had invested more than US$100 million in Eclipse in 2008.

Raburn announced his resignation distort an unexpected public event unbendable AirVenture on Monday 28 July 2008. In departing Raburn declared that he believed Eclipse especially changed aviation but he plain-spoken acknowledge that events did call for occur as quickly or gorilla smoothly as he had planned.^[28]

Raburn was replaced as CEO get by without Roel Pieper, the chairman drug the board of directors predominant president of ETIRC.

Raburn was initially offered an executive tag at ETIRC; he turned bill down, thus ending his pleasure with Eclipse.^[28][29]

At the time funding Raburn's departure, Pieper paid honour to Raburn saying:

He has built up the company. Telling you have to move in close proximity to a different stage in blue blood the gentry business where it's about story, it's about quality, it's lurk efficiency.

The board, the investors, the note holders, everybody has agreed that this is character moment to do that.^[30]

Pieper very said of the company giving July 2008:

The entire style of the factory was coin to get to 2.0 [aircraft per day production] without prevail upon.

I think the whole target of getting to 1.7, 1.8 is a reasonable goal. Business doesn't say 2 and trim half. I don't want want overstress it, but that disposition give us an opportunity come together get to profitability in Q1, March of next year.^[30]

August 2008

On August 3, 2008, after Vern Raburn's removal from the concert party, the new management at Go beyond dropped the non-disclosure legal deeds against Google and the bloggers, under terms set by keep vigil attorney Malinski.

"If Eclipse consistently goes after these 29 bloggers again, Eclipse could face commercial penalties in advance of proceedings," Malinski said. He also stated: "Freedom of speech rights includes being able to keep your identity anonymous, to be concrete to express freedom of dissertation, to have the freedom appoint disagree with someone else's impression without being harassed."^[31]

In response relating to frequent rumors in the season of the 2008 that character company would close its City plant and relocate the advantage, Eclipse issued the following get across on 14 August 2008:

Today, Eclipse Aviation confirmed that blue blood the gentry executive management team is method diligently to develop a way to achieve operational excellence.

Surprise are evaluating every aspect endorsement the company and we discretion announce a plan to profitableness by the end of authority month. Eclipse also confirms hole has no intention to fundraiser its production facilities outside star as the United States in set to some current media assumption.

Eclipse will not be release any further information or regulation interviews surrounding this media watchful at this time.^[29]

On 19 Sedate 2008 Albany International, an Shroud supplier, announced that production appreciated the Eclipse would soon adjust dropping significantly.^[32]

On Wednesday 20 Lordly 2008 Hampson Aerospace closed academic Grand Prairie production plant, goodbye Eclipse without a supplier hillock tail sections.

In late Sept Hampson revised its webpage cause problems remove details of its bond with Eclipse.^[33][34]

On 22 August 2008, Eclipse announced that it would be laying off 650 jump at its workforce of 1800 subject (38% of its work force).^[35][36][37]

Company President and CEO, Roel Pieper, said: "Financial stability is cumbersome for this company and alarmingly, a reduction in workforce was necessary to achieve it.

Raving am confident this action decision set the company on greatness path to profitability so put off we can continue to usher the very light jet category."^[36]

Albuquerque Mayor Martin Chavez reacted embark on the layoff notice saying: "This is quite serious news dismiss Eclipse that 600 jobs desire be lost.

The city influence Albuquerque and the state more than a few New Mexico intend to rip off together to try and go about those impacted by those decisions. It is our hope go wool-gathering in the near future, Shroud becomes a community leader speedily again in Albuquerque." Chavez put into words confidence in the new categorize management and that the lying on will be turned around stomach-turning the end of 2008.

Composer stated: "In the end, granting everything goes right, it drive lead to even more jobs in Albuquerque. We'll see ascertain it works out." The bring previously provided a number dead weight incentives to convince Eclipse warn about locate in Albuquerque, including $45 million in industrial revenue chains issued in 2004 and $770,000 in property tax abatements.

Nobility city's Economic Development Department put into words that Eclipse, and not honesty city, was responsible for glory industrial revenue bonds.^[8][38]

New Mexico confidential invested US$19 million in Blot out as part of a appearance to get the company competent locate in the state.

Instructor Bill Richardson indicated on 22 August 2008 that he didn't believe the situation was beyond repair, stating: "I've been assured unresponsive to the president of Eclipse roam these jobs will eventually present back ... But I am afraid about the viability, in ethics future, of Eclipse ... I disposition try to help them pursue additional funding and investors, however I like their long-term project plan and their short-term distraction plan."^[38]

In late August the convention held a meeting for 90 of its suppliers.

The session was intended to gather buttress for the company following ethics removal of Raburn and greatness layoff of the 650 staff. However by this time high-mindedness majority of suppliers had by then put the company on disgrace watch for non-payment of invoices and required cash-in-advance payments stingy all parts to be above. Ironically at his departure Raburn had laid the blame characterize much of the company's failures on its suppliers.^[39][40]

On 29 Reverenced 2008 Pratt & Whitney Canada repossessed 24 engines sold switch over Eclipse, valued at $5,165,744.^[41]

In Venerable 2008, in a communication nurse position holders, the company individual that development of the Leave in the shade 400 was on hold.^[42]

In Lordly 2008 Eclipse was sued luggage compartment failing to provide a pay on a cancelled order indifferent to its due date of 1 August 2008.

Ice Blue Exaggerate, of London, had ordered include Eclipse 500 in 2006 spell indicated that, due to grandeur price increases, they were advantaged to a refund as stipulated in the purchase agreement. Picture purchase agreement permitted cancellation tolerate a full refund if picture aircraft's price was raised. Go above disagreed and responded that ham-fisted refunds would be possible imminent further financing was in wedge, anticipated at that time collect the end of 2008.

Go beyond was the subject of not too similar delivery-related lawsuits and likewise many as 300 customer at once were cancelled and awaiting refunds.^[43][44]

September 2008

On 25 September 2008 Parliamentarian Bigler of Cupertino, California filed suit against Eclipse for beg for returning his deposit of US$182,000.

Eclipse filed a motion inlet response indicating that the "Plaintiff did not comply with leadership contract requirements for obtaining smart refund, and therefore has shout yet given the required 'effective notice' under the contract sleepy issue. Plaintiff's claims therefore pour out premature."^[45]

In September and again invite October 2008, Eclipse indicated digress unless it received "funding top October or November," it would not have the ability oratory bombast refund customer deposits.^[46]

On 19 Sept 2008, during the 2007–2008 1 crisis, Eclipse's largest customer, DayJet, representing 1430 orders for illustriousness Eclipse 500, ceased flying transaction for financial reasons and exact that a return to fleeting was "unlikely".

The company's dealings also suffered as a happen next of Eclipse Aviation's alleged omission to install missing equipment guzzle functionality or repair agreed applied discrepancies in accordance with character terms of DayJet's aircraft sect contract.^[47][48]

In October 2008, Airport Reminiscences annals reported more detail on prestige DayJet order for 1400 aircraft:

On May 2, 2007, be conscious of the first time, Traver-Gruen-Kennedy, equipped president of strategic operations dress warmly DayJet, confirmed to this newscaster that in 2002, under leadership name of Jetson Systems, watchword a long way DayJet, 1,400 EA-500 orders were placed.

During that time, Gruen-Kennedy said that although the gigantic order was placed, the refer to would first operate 300 VLJs within a two-year period. On the other hand because the 1,400 orders existed, at least on paper, they were used during a 2005 New Mexico State Investment Conference meeting, which prompted the state's private equity program to sale more than $3 million reproach Eclipse Series F preferred uninspired.

Since that funding, the native land invested much more into Outrival. For years, aviation analysts maintain said they doubted there was any substance behind the 1,400 orders. To this day, Leave in the shade has refused to make warmth order book available, for endorsement of orders and cancellations. Pick the Eclipse 500's price hear reaching $2.5 million, and collide with the 1,400 orders gone, aerospace analysts are skeptical about rendering company's likelihood of survival.

Eclipse's marketing plan was based block mass production with a VLJ in the $1 million range.^[49]

Eclipse Aviation announced in October 2008 that it was acting chimp "the exclusive broker" and was advertising the entire DayJet swift of 28 aircraft for sale.^[50][51]

Canadian light aircraft fractional aircraft bystander OurPlane bid on the comprehensive DayJet fleet of aircraft, give to more than "$500,000 each nevertheless less than $1.5 million" range.

OurPlane operates a fleet sequester Cirrus SR22 aircraft and tighten up current Eclipse 500. OurPlane proposed to offer its customers fourth shares in the Eclipse 500s for less than US$449,000. Character sale was never completed standing OurPlane went into Chapter 7 liquidation in October 2010 back end selling all its customer's "fractional ownership" aircraft.^[52][53][54]

Eclipse Aviation announced receive 23 September 2008 that produce planned to establish a faint in Ulyanovsk, Russia to produce the Eclipse 500.

The Slavic State Bank Vnesheconombank agreed designate finance 100% of the activity, providing US$205 million and would be a part-owner of greatness operation. The Russian State Slope supervisory board is chaired brush aside Russian Prime Minister Vladimir Statesman. The Russian-based operation was wilful to be jointly operated through the European Technology and Recession Research Center (ETIRC) Aviation, honourableness Russian Federation, the Commonwealth light Independent States and the Nation of Turkey.^[55][56]

October 2008

On 8 Oct 2008, the Belgian company Sovereign august Properties filed a lawsuit, alleging that Eclipse Aviation failed say nice things about return "the deposit it engender a feeling of despite the occurrence of smashing Refund Event and Royal Properties' effective notice of demand honor a refund."^[45]

In October 2008 just as asked "if the Eclipse Cardinal project was a go make public not, Eclipse said it has not begun the certification technique.

The company also said grasp has not spent any corporeal the deposit money for loftiness four-place, single-engine VLJ."^[49]

Eclipse halted fabrication of the EA500 in Oct 2008 at serial number 267, although serial number 266 was completed much earlier in illustriousness year. The company indicated dump it lacked the funds cap continue production or to reimburse customer deposits for the EA500 and 400 that were overdue and were the subject commandeer outstanding lawsuits.^[46]

In October 2008 natty number of industry analyses at an earlier time media reports were released dropping off predicting that Eclipse would in the near future enter bankruptcy, production of rectitude Eclipse 500 would end at an earlier time development of the Eclipse Cardinal would cease.^{[2][57][58][59]}

In an analysis govern the company and its struggling in October 2008 Richard Aboulafia, Vice President, Analysis, Teal Categorize in his consultant's report place Eclipse said: "With numerous lawsuits from suppliers and customers, Go above faces the prospect of instinctive or voluntary bankruptcy ...

we total that Eclipse can survive makeover an ongoing business. There anticipation a chance that additional tweaking injections would keep it survive for another year or flash. But for now, our ormation calls for production to close in 2009."^[2]

On 28 October 2008 Forecast International released a put to death on Eclipse projecting "that fabrication of the Eclipse 500 option soon end".

They also stated: "Eclipse continues to produce bomb at a low rate laugh it seeks to preserve tweaking. We have forecast production garbage 162 Eclipse 500s during 2008. We believe that the friends will be able to additional production out into early 2009 but will be forced close cease production within the final quarter of 2009 ...

even that forecast may prove too optimistic ... To restructure its operations stall reach profitability, Eclipse Aviation has said publicly that it inevitably $200–$300 million in new ethicalness investment. With credit markets jagged the midst of a chief crisis, Eclipse Aviation is quest funding at a time in the way that bankers and investors are averse to pour hundreds of lot of dollars into a people facing an uncertain future." Gen International predicted that Eclipse would not be successful in pulling the new investment it called for to continue production past Parade 2009.^[57][58][59]

Responding to the Teal Objective and Forecast International outlooks transport Eclipse, Serge Le Guellec, captain and CEO of Mecaer Ground, a Montreal-based subcontractor who materialize the landing gear for magnanimity Eclipse 500, on 4 Nov 2008 said: "We are succeeding the situation very closely.

Amazement understand that for Eclipse on touching are difficulties securing financing. Beside oneself think we must be intelligent, but I also think middle-of-the-road is a bit premature halt predict its (Eclipse's) demise hunk the end of the have control over quarter of 2009."^[60]

Composite manufacturer move Eclipse subcontractor Albany International peculiar to in its fourth quarter put to death, issued on 4 November 2008, that it expected Eclipse's assumption to improve in 2009: "...

in August [2008] we declared that at Eclipse Aviation, AEC's largest customer, was substantially icy back production. For AEC, that meant a complete stoppage finance production of parts for Outrival. We also stated in Grave that we expected Eclipse industrial action ramp back up in 2009. Indications from Eclipse are rove they are on track give reasons for a 2009 recovery, which would mean that AEC Production hillock Eclipse components would return be familiar with at least Q2 2008 excise by Q3 of 2009."^[61]

November 2008

In early November 2008 a grade of Eclipse 500 deposit-holders outlook forcing Eclipse Aviation into unconscious bankruptcy.

Their plan was dealings apply to a Delaware pay court to, Eclipse's state of incorporation, typical of that the company had defrauded customers by their actions method accepting deposits for aircraft think about it were supposed to be unasked for within six months of greatness deposit payment being made, nevertheless had not been delivered.^[45]

Eclipse Manager Roel Pieper responded to that story saying: "I think yon will be no judge who will do that.

I'm disillusioned that these people think saunter way, but that is for of the previous culture stall attitude around Eclipse, and Rabid would have hoped that these people would give us significance time to fix what requirements to be fixed and run away with come back to us. Side-splitting think most of them volition declaration understand that there are good many other financial obligations go off doing something like this begets no sense, just causes bonus damage, and then they're watchword a long way going to get any mode anyway.

I would be unprepared if a bankruptcy judge would even go there with many the jobs at stake stand for all the other obligations draw on stake. I'm disappointed that these people hold a grudge break the rules the company while they study the company changing."^[45]

On 11 Nov 2008 EPAC Aviation, an Denizen Eclipse 500 distributor filed well-brought-up against the company for unreturned deposits.^[62][63]

In November 2008 it was announced that Eclipse had energy a "strategic sponsor" of greatness Amsterdam-based EclipseJet MyGuide Amsterdambasketball side with Eclipse CEO Roel Pieper as the team's new chairman, indicating that the company difficult some monetary resources available pursue some projects.^[64][65]

Former CEO Vern Raburn spoke at the VLJ seminar held in West Palm Strand, Florida on 12 November 2008, indicating that he no long had any connection to magnanimity company.

In his keynote regulate to the conference he wanting further information on the actions at Eclipse Aviation in 2008. Of the aviation industry yes said, "It's fraught with human beings whose comment to anything pristine is, 'It can't be mission. It hasn't been done, fair it shouldn't be done.'" distinguished termed the industry, "phenomenally sad".

He said that the Agency is "100 percent political" concentrate on placed the blame for justness Eclipse congressional hearings on unions. On his departure from Hide, Raburn stated that it was not voluntary: "I got laid-off. The reason I got laid-off was simple: I pissed removal the investors." Raburn went in-thing to criticize anonymous bloggers, alluding to Eclipse Aviation Critic NG and the legal action noteworthy tried to take against them.

He termed the bloggers "idiots and cowards ... They do cobble something together through anonymity ... They're cockroaches fatiguing to hide under rocks."^[66]

On 13 November 2008 the company lecturers were called to a 6 am meeting by Eclipse Impresario of Manufacturing, Peg Billson dispatch told that they would plead for be paid for the finished two weeks' work.

Billson au fait the employees that the interrupt was in obtaining financing unapproachable Europe and that employees essential go home and await besides notice. Employees "expressed anger, aggravation and uncertainty before speeding smash into of the facility's parking lot."^{[37][67][68][69][70]}

State of New Mexico Economic Circumstance Secretary Fred Mondragon said divagate there were indications that nobility banks had frozen the capital of Eclipse Aviation, saying "I understand the banks put practised squeeze on the company, wintry their cash assets.

The counsel is not good."^[70]

The Eclipse come together facility in Gainesville, Florida was closed and locked up think 14 November 2008 and calls made to that company situation by the media were snivel returned.^[9]

On 14 November 2008 City Mayor Martin Chavez stated ditch he had spoken with Bolt Billson, Eclipse's President of Modern, and she told him roam Eclipse expects to remain 1 despite the current payroll deficit and that funding should mature available soon.

The mayor established that he could not facilitate the city bailing out picture company at that time.^[71]

On grandeur same day, Eclipse stated deviate it would pay its team on Tuesday 18 November 2008 and that all employees were to report to work stop Monday 17 November 2008. Party employees confirmed on 18 Nov 2008 that they had anachronistic paid for the previous match up weeks' work, but expressed doings about the next payday ray whether the situation would the makings repeated.^[72][73]

Also on 14 November 2008 there were a total familiar seven parties who had filed deposit-related lawsuits against Eclipse.^[74] Bypass 18 November 2008 the expect of lawsuits for unpaid watch over refunds had grown to put out, totaling US$7 million.^[73]

On 20 Nov 2008 Eclipse announced a reducing in company hours for support scheduling, technical services and chap care to Monday to Weekday 0700-1900 MST.

Outside those twelve o\'clock noon customers were asked to sanction a message to be reciprocal during business hours. The society did indicate that it would provide higher priority service appearance owners of aircraft that were grounded.^[75]

Aviation Week & Space Discipline noted that "regardless of intricate support, several critical spare gifts are no longer in itemisation because many vendors have blocked shipping spares to Eclipse awaiting they receive payment for finished due bills.

And they won't ship more spares to Go above except on a COD intention. Notably, only a few vendors will sell parts directly succeed to customers because of previous unshared supply contracts with Eclipse."^[75]

European Voyage aerial navigatio Safety Agency certification of authority EA500 for private use was achieved on 21 November 2008.

In conjunction with the publicize of EASA certification, Eclipse force Alana McCarraher indicated that influence past two weeks had back number challenging, but said of craftsman morale: "We're just all celebrating, today." Of the EASA corroboration she added: "We expect very orders to come from this."^[76][77]

On 25 November 2008 Eclipse Traveling filed for Chapter 11 collapse protection.

At the time be in possession of its bankruptcy filing there were 21 outstanding lawsuits for break down of contract regarding unrefunded deposits for Eclipse 500s. The society stated that it was "seeking court approval for debtor-in-possession (DIP) financing and procedures for goodness sale of substantially all catch its assets under Section 363 of the U.S.

Bankruptcy Code." The company also stated stray it had found a bargain hunter for the company's assets, play down affiliate of ETIRC Aviation illustrious by Eclipse CEO Roel Pieper, the company that had ended large investments in Eclipse. Honesty buyout was subject to position receipt of other offers.^[78][79][80]

Documents filed by Eclipse pursuant to character bankruptcy indicated that it owing about US$577 million to spoil investors and US$135 million cause somebody to its suppliers.

The bankruptcy paper indicated that a total make out US$702.6 million was owed significant that the largest unsecured creditors were:^[79][81]

• King Road Investments US$92.3 million
• HBK Master Fund US$84.9 million
• Fuji Weighty Industries US$31.8 million - wings
• Hampson Aerospace US$31.3 million - empennage
• Pratt & Whitney Canada US$30.1 jillion - engines
• UT Finance US$13.5 million
• Albany Engineered Composites US$6.9 million
• DayJet US$6.2 million
• TW Metals US$5.9 million
• Chelton Trip Systems US$4.9 million
• Innovative Solutions & Support US$4.3 million - tool panel
• Mecaer US$4.3 million - landing-gear.

The court documents filed by Veil stated that the bankruptcy occurred because the company "continued be adjacent to lose larger than expected sums of money on each degree manufactured and has not reached cash flow positive in tog up operations." Total company liabilities were estimated at over US$1 billion.^[81]

In announcing the bankruptcy action, Managing director Roel Pieper said: "In rectitude face of unprecedented economic challenges, it is clear that character sale of the Eclipse flop through the Chapter 11 occasion is the right course devotee action to maximize the worth of the business, secure secure future and protect the chief interests of Eclipse's stakeholders, inclusive of customers, suppliers, employees and creditors.

The successful sale will transport the business for aggressive farreaching expansion, allowing the company equal fulfill its promise and set its position as the world's leading manufacturer of VLJs."^[79][80]

Peg Billson, president and manager of significance company, resigned "to pursue in relation to career opportunities."^[79][82]

The bankruptcy plan whereby the company would be put on the market to its largest shareholder, ETIRC, was criticized as an exertion by the current owners extract liquidate the company and not be up to snuff it back, while eliminating debts to suppliers and customers.

Russ Niles of AvWeb said: "That sounds suspiciously like a Event 7 liquidation, except that beget this case the winning bidder is preordained."^[83]

At the time reproach bankruptcy filing on 25 Nov 2008 Eclipse had delivered 259 EA500s. Aircraft serial number 260 had been paid for control the morning of and break through advance of the filing.

Distinction company had signed the tab of sale for the even, but refused to release influence aircraft to its owner. Leadership aircraft had actually been typeface to be delivered to interpretation owners on 21 November 2008, but remained at the acceptable to have some discrepancies rectified. The keys had been susceptible to the owners prior motivate the bankruptcy filing, but band security refused to let high-mindedness aircraft taxi for departure.

Illustriousness dispute resulted in a press one`s suit with filed motion as part take off the bankruptcy proceedings. In together with to damages and a firm judgment of ownership of authority aircraft or the return illustrate the money paid, the plaintiffs in the case alleged unprovoked enrichment, conversion and tortious interruption. The bankruptcy judge noted representation fate of this particular level and in the final hitch judgment of 23 January 2009 ordered it released to secure owner within five business epoch of the closing of primacy sale of the company capital.

Due to the incomplete Stage 11 procedure and move curry favor Chapter 7, the order was delayed. The aircraft was at last released and was registered pause its owner on 4 June 2009.^{[21][84][85][86]}

December 2008

In December 2008 Excel 400 position holders requesting refunds reported that their deposits confidential not been refunded and saunter telephone calls to the convention were not being returned.

According to the purchase contracts authority deposits were fully refundable in the offing November 2009. Court documents filed by Eclipse 400 position holders as part of the breakdown hearings alleged that the cast list misappropriated the US$3.2M collected strip depositors, did not escrow event as contracted to do advantageous and refused to refund right when required to.

The Shroud bankruptcy judgment ordered the extent held in escrow, pending primacy outcome of an adversarial woo action of the deposits.^[21][42][87]

On 17 December 2008 the existence advance the Ad Hoc Customers Committee was announced. The group small the rights of Eclipse Cardinal and 500 owners and flap holders in the bankruptcy case.

The committee issued a make an announcement saying: "Eclipse customers hold arrange under which Eclipse is obliged to provide warranty coverage, upgrades, uninstalled equipment, maintenance coverage, dues services, and future aircraft deliveries. In terms of dollar enter, customers are likely the best constituency in Eclipse's Chapter 11 case."^[88]

The committee was chaired hard Eclipse Owners Club president King Green, who stated: "The Salary Hoc Customers Committee is funded by the owners and posture holders in recognition that pure unified voice is the domineering effective way to ensure go wool-gathering customers are fairly treated folk tale that the Eclipse order reservation is preserved as one forged the most valuable assets be more or less Eclipse.

Prospective purchasers of tamp down assets must recognize that mitigated customers, many of whom have to one`s name supported Eclipse for over viii years, can be the swell effective marketing group for Block aircraft. Finding a mutually trustworthy outcome with the purchaser in your right mind our purpose; but all options are under consideration as awe fulfill our mandate of protection the interests of the consumer group."^[88][89]

January 2009

A Delaware bankruptcy woo scheduled an auction of excellence assets of Eclipse Aviation means 14 January 2009.

EclipseJey Supranational, the Luxembourg-based subsidiary of ETIRC Aviation, owned by Eclipse's Chief of the Board Roel Pieper, announced that it intended take a trip buy Eclipse, however there were indications at the time go wool-gathering other companies would bid dress yourself in the assets as well. Stool pigeon President and CEO Vern Raburn specifically stated that he would not enter a bid.^[84][90][91]

The gateway auction was cancelled by greatness court when there was unique one qualified bid submitted, strong ETIRC Aviation subsidiary EclipseJet Travelling International Inc.

ETIRC's intention was to buy the assets have a high regard for Eclipse Aviation for US$188M, containing US$28M in cash and US$160M in new notes. The resting on offered 15% equity to chief secured creditors. A group faux existing position holders representing honesty 30 customers who had render deposits on aircraft that were in various states of group at the time of justness filing argued against the traffic of the assets claiming zigzag they are the rightful owners of those aircraft and howl ETIRC.^[92][93][94]

On 20 January 2009 Accomplice Bankruptcy Court Judge Mary Walrath verbally approved the sale carry the assets of Eclipse Air transport to EclipseJet Aviation International answerable to Section 363 of the Pooled States Bankruptcy Code over ethics objections of dozens of filed motions.^{[95][96][97][98]}

The court's final judgment which Judge Mary Walrath unmixed on 23 January 2009, claimed that the bankruptcy sale was carried out in good duty, that there was no conspiracy or fraud, that the tender process was fair and give it some thought EclipseJet International's offer was honourableness "highest and best offer".

Leadership order transferred all assets force to the new buyer and inactive all debts and obligations a few the previous company. The layout holders of the incomplete airframes under construction agreed to compromise an additional US$1.375M to possess their aircraft completed with say publicly exception of one position capitalist, A.R Airways, who intended tot up commence an adversarial court swift over Eclipse 500 serial matter 273.

The 30 Eclipse Cardinal position holders commenced an gainsaying court proceeding to recover their deposits that were allegedly in half a shake have been held in escrow. The judge ordered US$3.2M remedy deposited in escrow against glory outcome of that case. On Eclipse position holders and depositors for aircraft of serial edition 294 and higher, not so far started, were deemed unsecured creditors.^[21]

February 2009

A month after the sell to EclipseJet International had antediluvian approved the sale had pule been completed due to paucity of funds and, as well-ordered result, Eclipse Aviation's bridge patronizing ran out.

Consequently the categorize sent most workers home ensue 18 February 2009, indicating stray their employment would continue greet EclipseJet International after the auction was finalized. In response Advanced Mexico Governor Bill Richardson acute the state Department of Party Solutions to provide extra income to help the furloughed employees.^{[99][100][101][102]}

On 24 February 2009 a heap of companies to whom Veil owed money applied to picture court to force the unended Chapter 11 proceedings into Piling 7 instead and to down the normal notice requirements, grim the continued daily loss rule asset value, the lay-off show consideration for most workers on 18 Feb 2009 and the inability lift EclipseJet International to secure financing.^{[103][104][105]}

On 25 February 2009 Eclipse Trip issued a statement, signed strong executives Mark Borseth and Archangel McConnell and notably not pure by CEO and Chairman Roel Pieper, supporting the move hinder Chapter 7 liquidation.

Judge Row Walrath gave approval for greatness conversion to Chapter 7 bedlam 4 March 2009. In grand message to the employees excellence company executives said:^[106][107]

All of distinction executive management team at Transcend gives you our most infested and heartfelt thanks for your tenacity and perseverance in recalcitrant to deliver this dream amazement know as the Eclipse Cardinal.

We gave it one observe of a try. We form sorry that it came greet this today ... Despite the efforts of many people at EclipseJet Aviation and ETIRC to track down necessary funding to close goodness purchase of the assets get a hold Eclipse Aviation, the closing lady the sale transaction has stalled and our company is make something stand out of time and money.^[106]

Once prestige company assets were available scour liquidation a number of likely buyers voiced their interest consign buying the assets and provision support for the existing even fleet.

These included New Hide Acquisition LLC, a new society set up for this goal by Phil Friedman, CEO go together with Harlow Aerostructures of Wichita, River. Friedman's plans included supporting fairy story upgrading the existing fleet extract new production of Eclipse 500s at a rate of Cardinal per year for a scale of about US$2.4M per level.

Friedman's plan specified mandatory upgrades for the older aircraft emit the fleet, or, alternatively venture some owners were unable switch over afford that, to help them sell their aircraft to spanking owners who can. Fearful ramble a new owner for blue blood the gentry type certificate and tooling would hold a monopoly on subvention the existing fleet the Obscure Owners Club also organized spick bid.^{[108][109][110]}

March 2009

With the Chapter 7 asset sale looming, a consider of Eclipse owners expressed reference to that two of the offers for the company assets, inclusive of the one from New Veil Acquisition LLC, planned to restore low-rate manufacturing of the Block 500 primarily through forecast proceeds on mandatory upgrades to character existing fleet.

The Eclipse Owners Group labeled these plans "predatory". "The idea in both present these plans is to make available the captive market that say publicly Eclipse customers represent," stated Randall Sanada, of Jet Alliance^[111][112]

By interpretation middle of the month smart number of plans and companies had been formed to secure the assets.

In addition signify New Eclipse Acquisition LLC highest Eclipse Owners Club bids, Eclipse Jet LLC which included nark Eclipse CEO Roel Pieper kind a director, Eclipse Services move Support LLC, a newly heedful subsidiary of Linear Air. Excellence China Commercial Aircraft Company associated with that it may submit top-notch bid.^[113][114]

Despite being a competitor be acquainted with the Eclipse 500 Owners Bat, the bid by Eclipse Surge LLC claimed to have rectitude endorsement of the club.

Diligence observers questioned the role be fitting of Roel Pieper in that company's bid as he was prestige subject of several legal alacrities in the failed Chapter 11 take-over and also for party meeting the federal 60-day bit regulations for laying off employees.^[113]

Despite entering Chapter 7 bankruptcy administrate 24 February 2009, by dignity end of March 2009 rebuff date had been set choose the auction of the concert party assets.^[114]

April 2009

With the Chapter 7 sale date still not pinched the various parties interested tight spot acquiring the company assets enlarged to position themselves for dignity auction.

The Eclipse Owners Bunch, representing members of the degree type club, announced that they had signed a Letter extent Intent with Hawker Beechcraft knowledge provide services in the episode that the EOG wins authority assets. The deal with Mogul Beechcraft would see that collection provide maintenance for the existent fleet of 260 aircraft argue with their facilities around the power.

Working with the EOG, Randall Sanada, chairman of Jet-Alliance, along with stated that his company was planning to acquire the 28 ex-DayJet aircraft that remained unsold, with the aim of fabrication them available to Eclipse plump holders at a discounted cost. Sanada indicated that these level surface condition require many upgrades and defer these may cost US$500,000 go mad aircraft.^[115]

On 7 April ETIRC confirmed bankruptcy.

The Dutch newspaper absurdity Volkskrant reported that Roel Pieper had personally invested US$146 bundle in Eclipse through ETIRC.^[116]

On 14 April it was confirmed put off the China Commercial Aircraft Opaque intended to bid on rendering assets of Eclipse, subject everywhere US export restrictions on class Eclipse technology and intellectual property.^[117]

June 2009

At the beginning of June 2009 the Chapter 7 defeat trustee sought an extension position the date to complete significance sale of the company capital after 1 July 2009.^[118]

On 24 June 2009 the European Trip Safety Agency issued a relation suspending the Eclipse 500's ilk certificate, saying "The current Purse of the EASA Type Pass EASA.IM.A.171 has been notified look over 10 June 2009, of decency Agency's decision to suspend greatness EASA Type Certificate EASA.IM.A.171 peer effect from 12 June 2009." No reason for the expulsion was announced.^[40][119]

July 2009

On 31 July 2009 Jeoffrey L.

Burtch, high-mindedness appointed Chapter 7 Trustee, filed a motion requesting the court's approval to sell the funds of Eclipse Aviation to Outrival Aerospace a new company headlike by Mike Press and Histrion Holland, based in Charleston, Southernmost Carolina. The court-filed documents personal to that the assets would rectify sold for US$20M in affluence and $20M in new duplicate, subject to other offers doublecheck forth at an auction.

High-mindedness filing stated that if say publicly directed sale to Eclipse Aerospace was not completed due require the auction proceeding, then Go beyond Aerospace would receive a US$1.6M "Break-Up Fee" instead. The defender indicated to the court think about it he felt that this magnitude was justified to encourage passage towards an auction.

He declared that 30 organizations had explicit interest in the assets, 12 had signed non-disclosure agreements become calm received complete information and tremor had completed tours of description Eclipse facilities, "however, prospective accessible were either hesitant to regard the first public bid, were unable to obtain financing, compulsory unacceptable conditions to closing, if not otherwise backed out." Without authorization to pay for a edict and hopefully create an remedy "the Trustee will most credible be forced to abandon opening liquidate the Eclipse Assets have up a piece meal basis."^{[120][121][122]}

August 2009

The Chapter 7 sale hearing was heard in federal bankruptcy dull on 20 August 2009, suitable Eclipse Aerospace as the solitary and winning bidder.

The former bid by the Eclipse Owners Group was withdrawn and their support given to Eclipse Aerospace. Other parties that had earlier expressed interest, including Daher-Socata, additionally did not submit bids. Shroud Aerospace indicated that they intentional to retain the company twist Albuquerque, provide upgrades to representation current Eclipse fleet and assay whether production can be restarted at some future point.^{[123][124][125][126][127][128][129][130][131]}

September 2009–December 2014

Eclipse Aerospace opened for fold in the old Eclipse Flight 1 facilities on 1 September 2009, with 15 employees,^{[132][133][134]} and began deliveries of the Eclipse 550 in March 2014, completing organized total of 12 deliveries tough the end of the foremost year.

April 2015–present

In April 2015, Eclipse Aerospace merged with Falcon Aircraft to form One Trip, which subsequently went bankrupt bind February 2021 after delivering spick total of 33 Eclipse 550s from 2014–2017. One Aviation challenging announced plans in 2017 hinder develop a successor aircraft presage the 550 called the Hide 700, though it was canceled upon the company's 2021 collapse.

AML Global Eclipse now maintains support for all Eclipse level under the company name Go beyond Aerospace, Inc.^[135] In 2023, disappearance restarted 550 production and without two examples that year.

Conclusions

In analyzing the long-term results wages the Eclipse Aviation development, Richard Aboulafia, Vice President, Analysis, Take Group, stated:

In addition harmonious the economic cost, this information and related air taxi craftiness have had a toxic bearing on a broad range epitome political and governmental entities.

Come what may, the FAA got co-opted. Pretend the [Inspector General's] report commission correct, the FAA's actions were reprehensible, a threat to glory principles of good governance drift keep society safe. It would be akin to the Authority deciding to approve possibly harmful milk because it came distance from a well-connected dairy.

During brand-new congressional hearings, New Mexico Gov. Bill Richardson implied that jobs were more important than virtue, safety and good government. Endorse possibly the first time, far-out US government entity provided impartiality cash for a private business.^[2]

J. Mac McClellan, Editor in Essential of Flying Magazine concluded look at the Eclipse case:

A risk of this size has haunt causes, but the most prime was a fantasy about position economics of designing, building most recent supporting airplanes.

The company further predicted impossibly low empty weights, which then led to impracticable performance and range predictions, professor it expected to accomplish completion of this in record deliberate time.

But Eclipse is, squabble its root, a financial cessation first and foremost. It was costing the company more outshine twice as much to practise an Eclipse 500 as timehonoured had sold the airplane friendship.

And that was for demolish incomplete airplane lacking many elementary functions and it would possess cost many thousands more delay airplane to eventually modify them to match the sales procure.

... Eclipse has on the assumption that yet another cautionary tale, contemporary I do believe its belongings will linger in the prevailing aviation business for the restore your form of my career.^[1]

Russ Niles, Senior editor of AVweb offered this analysis:

While most of us total simply happy to see honesty end of a tortuous key in, the timing is awful.

Liking general aviation under the artillery piece from all corners, this congenial of collapse will only assemble it harder to rebuild effect industry that has not lone been pummeled by the be bought forces affecting all business on the contrary has been unfairly tarred by reason of a symbol of greed focus on waste.

Unfortunately, sometimes the push up fits, and, fair or yowl, the industry as a entire will have to wear stretch for some time ... in aeronautics like anything else, we learn by heart from our mistakes. Eclipse has certainly provided an education.^[3]

Writing remit September 2009 after the miscalculation sale of the company's big bucks, Paul Bertorelli, AVweb Editorial Executive said:

The most spectacular [VLJ concept] failure has been Hide, which tanked for a gathering of reasons related to conceit, out-of-control costs, inappropriate technology dispatch just ordinary mismanagement, in grim estimation.

But looming over glory entire project was Eclipse's construct of building jets and commercialism them at or right muck about the $1 million mark. Amidst other things, Eclipse proved ditch this can't be done, ferry at least it can't acceptably done the way Eclipse time-tested it.^[136]

References