One Aviation Wants To Resume EA550 Production

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The Albuquerque Journal is reporting that One Aviation has attracted new investors, wants to resume building airplanes and is offering to pay most of its back rent to the City of Albuquerque as part of its restructuring process. In a May 17 letter to the city obtained by the Journal, Mike Wyse, the new chairman of the board of directors of One Aviation, offered to pay $790,000 of the $865,000 the city says it’s owed and move into a single hangar from the three it now occupies. It also intends to restart the Eclipse EA550 production line, which shut down in 2017. “We have acquired new investors who want to stabilize our core business,” the Journal reported Wyse as writing in the letter. “Our goal is to remain at the Albuquerque International Sunport and be a long-term partner with the city.” The company is currently under eviction notice.

Wyse is a new spokesman for One Aviation. CEO Alan Klapmeier has previously spoken on the company’s behalf. Wyse is the managing partner of Wyse Advisors LLC, a New York-based restructuring and liquidity company that describes itself as “a boutique financial advisory firmwith a primary focus on stressed, distressed and special situations.” Wyse declined further comment in response to an email request for an interview from AVweb.