Eclipse Celebrates Funding, Avionics Certification
There were a couple of pieces of good news for Eclipse Aviation and its customers this week as the business year wound down. The company received certification for its Avio NG avionics suite and it also got a $30 million shot in the arm from customers who paid deposits in advance in return for a lower overall price on their aircraft. Certification of Avio NG was a major milestone and the system will be immediately integrated into aircraft coming off the assembly line.
In a news release, Eclipse CEO Vern Raburn said the system has already been installed in aircraft serial number 105, which will be delivered in the next few weeks. The first 104 aircraft will be retrofitted, at no cost, within a year, he said. Meanwhile, the controversial capital-raising effort from within the ranks of Eclipse customers took about three weeks. Existing position holders were asked to up-front $625,000 into their escrow accounts in exchange for a guaranteed base price of $1.25 million for their aircraft. Eclipse would be allowed to draw on that money as required.