Eclipse Aviation celebrated the provisional FAA certification of its first plane with a barrage of press releases. We’ll rattle through the list briefly for you.
The Eclipse 500, nearly eight years in the making, received provisional certification, with full certification expected in August. The test fleet of five planes performed 2,700 flight-hours in over 1,800 flights. You’re forgiven if you don’t grasp the restrictions that accompany the term “provisional” we’re awaiting response from the company on the implications. The 5-6 seater Eclipse 500 has enjoyed rockstar status for its position as a potential disruptor of private jet aviation. At just over $1.5 million, the plane costs a fraction of traditional private jets, and offers impressive efficiency and operating parameters.
- Max Cruise Speed: 425 mph - Range (with four occupants): 1,300 miles - Max Altitude: 41,000 ft - Takeoff Distance (68 deg, 5,000 ft): 3,500 ft
The plane comes in a Standard and LX configuration with a number of options including galley, lavatory, sixth seat, entertainment center and soundproofing. The plane’s freshly minted status as “the quietest jet aircraft in history” should placate those clever buyers of discount-priced housing near airports, if such a thing is possible.
There is a substantial backlog of orders, including new air taxi and regional fractional players. Today’s announcements included customer financing arrangements with Bank of America Leasing, UBS Financial Services, and Wells Fargo Equipment Finance.
The company also announced its plans for maintenance infrastructure, with four service centers added to the three already underway. Further, Global Jet Services has been retained to provide location- and web-based training. By 2008 the company expects to have Eclipse Service Centers positioned within a 60-minute flight of customers in the continental U.S.
To scale the IPO-track Eclipse, the company secured $225 in convertible debt funding. The round was placed by UBS, with eleven institutional investors participating. Brandon Jones of Polygon Investment Partners joined the board as well.
The company’s final press release betrays its grand ambitions, and serves as a reminder to local municipalities and airport officials: this plane (this very quiet plane) means lots of jobs and lots of money. Eclipse hired CRA International to issue an economic impact study that suggests the significant role very light jets (VLJs) will play in the U.S. economy. The report predicts 23,000 jobs, with $6.5 billion in output and $1.7 billion in personal earnings by 2017, all directly related to VLJs. Indirectly, the numbers are 189,000 jobs, $24 billion in output, and $6.9 billion in earnings. The report also concludes that VLJs will provide more than 7.7 million air taxi trips that year, with aggregate customer savings of over 35 million hours, pegged at $1.8 billion.
What does this mean for luxury private aviation? Not much. The least revolutionary part of VLJs is the interior experience. It’s a cramped ride, compared with the jets that typify private aviation. Furthermore these planes offer a limited range. Nonetheless, the Eclipse 500 and other VLJs will attract new customers to general aviation, and once you go G.A., you never go back. These customers will be natural prospects for luxury jets as their personal or professional balance sheets expand.

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