From the Ashes, a New Eclipse

Vern Raburn launched Eclipse Aviation about 10 years ago, and his aim was to bring a small six-seat twin-engine jet to market for under $1 million. He scorned the doubters, insisting that his vision of a sky full of little jets would be achieved by “disruptive technology” and the old rules didn’t apply. One of those rules, that the best way to make a small fortune in aviation is to start out with a large one, turned out to be true. Raburn burned through a billion dollars. His business plan, which depended on massive production volumes to make the numbers work, was considered by many observers to be a long shot, and after the economy faltered last year, Eclipse went into bankruptcy. Only 260 Eclipse jets were ever delivered, and many of those are grounded for a lack of parts and support.

But now a pair of entrepreneurs has bought up the assets of the company for a mere $40 million. Mason Holland had a deposit on an Eclipse jet, though he never took delivery, and Mike Press was one of the first buyers. Press has a few hundred hours on his jet and says it’s a pleasure to fly. They are reopening the plant in Albuquerque, New Mexico, under the name Eclipse Aerospace, and plan to provide maintenance, training, upgrades, and sales of refurbished jets. They also hope to restart production, but they’re not in any hurry. When the worldwide demand warrants it, they plan to start building maybe a hundred or so jets a year. That’s not enough to darken the skies, but it’s enough to brighten the hopes of those eager pilots who yearn for a spiffy little jet of their own.