Eclipse Aviation News
Garnered from new and existing private investors, the capital will fund the company’s continued progress toward the design, manufacture and certification of the Eclipse 500 Jet.
“The investment community’s continued support demonstrates their recognition that we have both validated the market and made significant development progress,” said Vern Raburn, president and CEO of Eclipse Aviation. “Since the beginning of the Eclipse 500 program more than 30 months ago, we have demonstrated the ability to deliver on our promises. We are well positioned to deliver the Eclipse 500 on schedule, on budget and at the price and performance we guaranteed, despite claims to the contrary from industry skeptics.”
Since March 2000 the company has achieved the following milestones: completion of primary wind tunnel testing; completion of the senior management team; launch of aircraft purchase programs; establishment of guaranteed performance, price and standard equipment specifications; completion of preliminary design review; and filing of the Eclipse 500 type certificate application.
“The capital raised by Eclipse Aviation in its two rounds of funding is a solid endorsement of the company’s compelling value proposition,” said Kent Kresa a member of the Eclipse Aviation board of directors and Northrup Grumman Corporation’s chairman, president and CEO. “Eclipse is aggressively developing the capability to deliver its innovative product to a market with great potential.”
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.