Eclipse Aviation News
Garnered from undisclosed private investors, the capital will fund the company’s continued progress toward the manufacture and certification of the Eclipse 500 jet.
“Our continued success in funding this program is a direct result of the significant progress we have made in the development and assembly of the Eclipse 500 jet and the tremendous market validation we have achieved,” said Vern Raburn, president and CEO of Eclipse Aviation.
The twin turbofan, six-place, Eclipse 500 jet will for the first time ever, offer acquisition and direct operating costs low enough to enable the creation of a personal air taxi service. It will also introduce the world of private jet travel to a large number of businesses and owner pilots throughout the world.
The latest round of funding was secured in two closings. $62 million was secured in September 2001, with an additional $38 million secured in February.
FAA certification of the Eclipse 500 is scheduled to occur in December 2003. First customer deliveries are scheduled for January 2004.
Eclipse Aviation is in the business of designing, certifying and producing modern, affordable jet aircraft that will revolutionize the transportation market. The company is applying advanced electronics systems, manufacturing and business practices to produce aircraft that cost less than a quarter of today's small jet aircraft, will be significantly safer and easier to operate than those of today, and have the lowest cost of ownership ever achieved in a jet aircraft.
The goal of Eclipse is to bring the word "personal" into aviation, making it possible for commercial air passengers to move directly between cities on a quick, affordable and convenient basis. It will also allow pilot owners to enter the world of jet-powered aviation.