Like many in this industry, we’ve been following the development of the very light jet (VLJ) category enthusiastically, tracking new entries by Eclipse, Adams, Cessna, Honda, Embraer and others. None has attracted the attention and acclaim of Eclipse Aviation with its Eclipse 500. Thanks to a great story (“industry outsider tears up rule book as grizzled veterans scoff, snicker and twirl their mustaches”), along with a fuel-injected PR machine (see the latest profile in Business 2.0), Eclipse quickly established itself as the Marcia Brady of VLJs.

We’re excited about the prospect of VLJs, but perhaps the grizzled veterans’ mutterings had merit. Already the vision of the sub $1 million jet (available in 2003) has been tempered by the reality of a $1.5+ million jet (available in 2005, 2006, 2007…). Eclipse has created such fanfare around each FAA-certified baby-step, that you can hear the long line of world-weary customers greeting each shiny new announcement: “That’s great. You must be so proud. Now can I get my freakin plane already?”

Well, it gets worse. Since our last report, Eclipse has had to swap out its avionics package, replacing an integrated unit from Avidyne with an assortment of electronics from other vendors. Though the company initially claimed this would not impact schedule, it has recently changed its tune, citing an array of production issues. Other configuration changes require re-certification, which will further delay completion. The icing on the cake is that Cessna has eclipsed Eclipse by achieving the first FAA VLJ “type certification” for its Mustang 510. The company expects to ship 40 of the $2.65 million six-seaters this year, with full production ramping over the next two years.

At this point, Eclipse appears to be doing all the right things -- short of delivering a plane. It’s in constant communication with customers, providing schedule and technical updates. It has committed to achieving promised performance metrics, and retrofitting all first-generation planes at company expense. They have further committed to discount the final payments of its longest-waiting customers.