Eclipse Aerospace was cleared for landing the assets of Eclipse Aviation Friday en route to restarting the defunct jet maker's operations in Albuquerque.
Friday's noon deadline for competitive bids came and went with no rivals to Eclipse Aerospace's $40 million offer to buy the assets in U.S. Bankruptcy Court in Delaware. The investment group's offer has been endorsed by the courtappointed trustee in the bankruptcy case.
A hearing is scheduled Thursday in Delaware to finalize Eclipse Aerospace's purchase.
"Thursday is the day. I don't anticipate any objections that would be meaningful," Mayor Martin Chávez told the Journal. "I couldn't be happier. These guys are very serious entrepreneurs."
Currently based in Charleston, S.C., Eclipse Aerospace plans to use Albuquerque as its hub to service the existing fleet of 259 Eclipse 500 very light jets, which were orphaned when the 10-year-old Eclipse Aviation closed down earlier this year and went into Chapter 7 liquidation proceedings in bankruptcy court.
Eclipse Aerospace President Mason Holland Jr. has said the company plans eventually to resume production of the Eclipse jet. When that happens could be anybody's guess.
The economic recession has been particularly hard on general aviation, which generally includes all fixed-wing aircraft except those made for the military and commercial airlines.
Shipments of all types of general aviation aircraft were down 46 percent in the second quarter, from 1,918 in 2008 to 1.037 this year, according to the Washington, D.C.-based General Aviation Manufacturers Association. More specifically, sales of business jets - the category that includes the Eclipse jet - were down by 40 percent, from 663 in 2008 to 412 this year.
