Eclipse Aviation is the manufacturer of the Eclipse 500 Very Light Jet (VLJ), which came under scrutiny earlier this year when it was alleged that the aircraft was certified prematurely.
Not too surprising. As soon as they had the first engine glitch 4 years ago they doubled their time to market. That takes much deeper pockets than they ever expected to need.
The rest is just the typical teething pains of starting an aircraft company. had they not lost hose 4 years they might have been sustainable enough by now to weather a 3-year recession. From here they were 9 months ago I’d say Chapter 11 was inevitable; it was just a matter of how far they’d glide before altitude reached zero.
A buddy I graduated with (mechanical engineering) works for them. I haven’t talked to him lately, but they said on an Albuquerque news channel earlier this week that another company was expected to buy their assets and continue production. Their goal was pretty lofty (heh), but hopefully the new company will be able to do what they’re saying they’ll do. Here’s to hoping.