To no one’s surprise since there was only one bidder, the judge overseeing Eclipse Aviation’s bankruptcy approved the sale of assets to EclipseJet Aviation International, Inc allowing the planned acquisition by ETIRC. The sale was for $ 28 million in cash, plus promissory notes and equity. The company is now working on hammering out a final sales transaction even as Eclipse continues its current operations.
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 Chair Roel Pieper, became the acting CEO of Eclipse in July 2008 and has served as Eclipse´s Chair since January 2008.