From Aero News Network, Eclipse Jet sent out a letter to employees Tuesday night informing them that the company was moving from a Chapter 11 reorganization to Chapter 7 liquidation bankruptcy filing.
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From Aero News Network, Eclipse Jet sent out a letter to employees Tuesday night informing them that the company was moving from a Chapter 11 reorganization to Chapter 7 liquidation bankruptcy filing.
Even without the economy disaster, their business model didn't seem feasible to me.
There business plan was a guy with a dream & a business card! In theory it sounded good, but, technology has not caught up with us yet, in addition, the gods did get in the way of the Eclipse program, problems ranging from fuel prices and problems with the aircraft....Quote:
Originally Posted by GothamSpotter
I guess it made sense to them the same way starting construction on a New York luxury high rise made sense to a developer in August 2008. Unfortunately no one listened to the folks like me who recognized that those days wouldn't last forever, and that the number of people who could afford $5 million aircraft (even if they are indeed way cheaper than conventional jets) and $5 million apartments would not expand forever. Now Eclipse is out of business and dozens of buildings in New York stand half finished or finished without any tenants.