
As the liquidation process for the assets of bankrupt Eclipse Aviation drags on, four groups have announced proposals to buy those assets and restart product support and in some cases production for the orphaned Eclipse 500 very light jet. There may be Chinese interest in bidding on the Eclipse assets, too.
No date has been set for the asset auction by the Delaware bankruptcy court. Eclipse Aviation was placed into Chapter 7 (liquidation) bankruptcy on February 24, and since then a variety of competing
elements have come forth, offering various ideas to help owners of the 259 Eclipse 500s produced keep their jets flying and buyers who have placed deposits–some totaling hundreds of thousands of dollars–recoup some part of their investment. Under the Chapter 7 liquidation proceeding, it’s unlikely that deposit holders will retrieve any money from the sale of Eclipse Aviation’s assets.
Eclipse Aviation, of course, isn’t the first example of an aircraft manufacturer going out of business or dropping support of an out-of-production aircraft. What happens with orphaned aircraft ranges from leaving owners to fend for themselves to the consistent aftermarket support provided by Mitsubishi for the MU-2 turboprops, which ended production in 1986. MU-2 parts, training and upgrades remain readily available, and Mitsubishi has promised to continue supporting the marque until the last one stops flying. In other cases, new companies have formed to support fleets like the Twin Commander turboprops or Aerostar piston twins. Gulfstream still provides support for all of the aircraft it manufactured, including technical support for the few remaining G-I turboprops, although maintenance and parts are handled by separate companies. Sabreliner still makes parts and provides complete maintenance for all North American Aviation/Rockwell International/Sabreliner 40- through 80-series jets.