Darkwing
November 14th 08, 05:15 PM
http://www.aopa.org/aircraft/articles/2008/081113eclipse.html?WT.mc_id=&wtmcid;&WT.mc_sect=tts
Eclipse Aviation failed to meet its payroll during the last two weeks, and
some angry employees have emptied their desks and left the very light jet
pioneer, a local TV station reported Nov. 13. Eclipse spokeswoman Alana
McCarraher didn't immediately return inquiries.
Eclipse has publicly stated that it needs up to $300 million in new capital
to continue production, and company officials said they hoped to have the
cash infusion before the end of the year. Other widely published forecasts
predicted Eclipse would be forced to seek bankruptcy court protection in
next year's first quarter.
Albuquerque TV station KOB is reporting that Eclipse employees were called
to a meeting today in which managers told them they would not be paid for
the last two weeks, and workers "expressed anger, frustration and
uncertainty before speeding out of the facility's parking lot."
Eclipse has produced more than 200 twin-engine Eclipse 500 jets and had
announced plans to certify and deliver V-tailed, single-engine Eclipse 400s.
But the company's original business plan depended on being able to produce
large numbers of aircraft at drastically lower unit costs. Eclipse never
came close to meeting its ambitious production goals, however, and the air
taxi firms that were expected to become Eclipse's main customers never fully
materialized.
Eclipse ousted founder and CEO Vern Raburn in August.
Eclipse Aviation failed to meet its payroll during the last two weeks, and
some angry employees have emptied their desks and left the very light jet
pioneer, a local TV station reported Nov. 13. Eclipse spokeswoman Alana
McCarraher didn't immediately return inquiries.
Eclipse has publicly stated that it needs up to $300 million in new capital
to continue production, and company officials said they hoped to have the
cash infusion before the end of the year. Other widely published forecasts
predicted Eclipse would be forced to seek bankruptcy court protection in
next year's first quarter.
Albuquerque TV station KOB is reporting that Eclipse employees were called
to a meeting today in which managers told them they would not be paid for
the last two weeks, and workers "expressed anger, frustration and
uncertainty before speeding out of the facility's parking lot."
Eclipse has produced more than 200 twin-engine Eclipse 500 jets and had
announced plans to certify and deliver V-tailed, single-engine Eclipse 400s.
But the company's original business plan depended on being able to produce
large numbers of aircraft at drastically lower unit costs. Eclipse never
came close to meeting its ambitious production goals, however, and the air
taxi firms that were expected to become Eclipse's main customers never fully
materialized.
Eclipse ousted founder and CEO Vern Raburn in August.