ALBUQUERQUE, NM —January 20, 2008 — 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.

EclipseJet’s bid of $28 million in cash, plus promissory notes and equity for the assets of Eclipse Aviation was verbally approved by the judge. Eclipse® and EclipseJet will begin working toward the prompt closing of the final sales transaction. In the meantime, Eclipse expects to continue its current operations through the closing date.

EclipseJet is an affiliate of ETIRC Aviation, Eclipse’s largest shareholder, and a principal driver of the very light jet (VLJ) industry in Europe. ETIRC Aviation’s Chairman, Roel Pieper, became the acting CEO of Eclipse in July 2008 and has served as Eclipse’s Chairman since January 2008.


On November 25, 2008, Eclipse Aviation filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. Since then, Eclipse has continued operations with debtor-in-possession (DIP) financing. Today’s sale enables the Eclipse 500 Jet® to further solidify its position as the global standard for VLJs.


About Eclipse Aviation
Eclipse Aviation® is the world’s leading very light jet (VLJ) manufacturer, producing innovative, affordable jets that are revolutionizing air transportation. The company created the VLJ category with the design, certification and delivery of the Eclipse 500® — the industry's first VLJ. Eclipse applies advances in technology, manufacturing processes and business practices to create high-performance aircraft that provide the lowest cost of jet ownership ever achieved. By changing the value proposition for private jet travel, Eclipse is allowing more pilots to enter the world of jet-powered aviation and enabling a new generation of entrepreneurs to help business travelers move between cities on a quick, affordable and convenient basis. Contact Eclipse at www.eclipseaviation.com.

De media
- weet te melden dat de Heer Roel Pieper daar mogelijk zelf verder gaat.