EclipseJet Aviation International, Inc.: Sale of Eclipse assets approved

ALBUQUERQUE, NM - January 20, 2009 - Today, Eclipse Aviation® announced that Judge Mary Walrath of the United States Bankruptcy Court for the District of Delaware approved the sale of its assets for a combination of cash, equity and debt under Section 363 of the United States Bankruptcy Code to EclipseJet Aviation International, Inc. pending administrative closure on several remaining items.

EclipseJet is an affiliate of Eclipse’s largest shareholder ETIRC Aviation, which according to this resent press release is one of the principal drivers of the Very Light Jet (VLJ) industry in Europe. Although the final agreement has yet to be made, this seems to indicate that production and further development of Eclipse VLJs will indeed continue after the recent Chapter 11 filing of Eclipse Aviation.

Stay tuned…

Very Light Jet outlook descending through the clouds?

The financial crisis and struggeling economy may, if long lasting, have significant effects on the VLJ market over the next 10 years. The UK aviation consultancy firm PMI Media predicts, in its latest report, a 23% reduction in Very Light Jet deliveries compared to the October predictions from the same analysts.

According to their forecast, 4610 VLJs will be delivered between now and 2017 - down from 5970 as predicted a couple of months ago. The recent trouble at Eclipse Aviation - which recently filed for Chapter 11 bankrupcy protection - along with the collapse of air taxi operator DayJet, are some strong indications that the VLJ industry may be in for some rough weather in the coming years.

Cirrus cuts production

Cirrus Design Corp. recently announced that it will be reducing production of new airplanes through the end of the year. According to ABC News, Cirrus’ VP of Business Administration, Bill King, cited the slowing economy along with a tightening credit situation as the key reasons.

The Cirrus Jet project remains unaffected, according to King, and will continue at full power.

Eclipse files for Chapter 11

Due to “unprecedented economic challenges,” Eclipse Aviation filed for Chapter 11 bankrupcy protection in Delaware on Tuesday, November 25.

The Albuquerque manufacturer that initiated the Very Light Jet (VLJ) category made the announcement just four days after announcing it had received EASA (European) certification for its model 500 Jet. The outlook for the VLJ industry has changed dramatically due to the recent financial crisis, and several manufacturers are feeling the pressure of an increasingly challenging economic climate these days.

Business travel by private jet aircraft

Welcome to the Light Private Jet site, dedicated to personal jet travel!

These are exciting times, as a new breed of light jet airplanes sees the light of dawn - VLJ (Very Light Jet) is the name of the game. For those who are new to the concept, these are very small, jet powered airplanes (formerly known as microjets) that typically have 4-6 seats and are certified for single-pilot operation.

Several jet manufacturers are working on new aircraft models, including Eclipse Aviation, Cirrus and Diamond Aircraft. Watch closely, as there will be many spectacular new launches of single and twin engine VLJ planes in the near future!

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