Eclipse customers organize
Eclipse owners and position holders have formed what they’re calling an ad hoc customers committee. The committee “will act for the common interests of all owners and position holders of Eclipse 500 and 400 aircraft,” a press release stated. Eclipse is obligated to provide warranty coverage, upgrades, uninstalled equipment, maintenance coverage, and subscription services.
David Green was selected to be chairperson by committee representatives. Green is also the president of the Eclipse 500 Owners Club, a founding group of Eclipse 500 jet owners and position holders. The committee's steering committee members include: Mason Holland, Shaun Hughes, Ron Lebel, Daniel Mancini, Ken Meyer, Don Morris, Mike Press, Randall Sanada, and Raul Segredo.
Green said that “the ad hoc customers committee is funded by the owners and position holders in recognition that a unified voice is the most effective way to ensure that customers are fairly treated and that the Eclipse order book is preserved as one of the most valuable assets of Eclipse.”
Before Eclipse filed for bankruptcy on Nov. 25, the company delivered 259 airplanes and took deposits that the ad hoc committee estimates are worth $300 million—representing future deliveries. The committee says that Eclipse has recently reported that its order book stands at approximately 1,100 aircraft.
Eclipse Aviation wants to sell its assets under the terms of its bankruptcy, and customers represent a substantial proportion of the creditors. Green reported that “the committee will also serve as the focal point for prospective purchasers to discuss preserving customer goodwill and satisfaction of customer obligations. Prospective purchasers of company assets must recognize that satisfied customers, many of whom have supported Eclipse for over eight years, can be the most effective marketing group for Eclipse aircraft. Customers are generally successful business people with significant contacts both in and out of the aviation industry. It is unlikely that any prospective purchaser would ignore the support these customers can provide.”
Prospective purchasers should contact Kevin Padrick of Obsidian Finance Group, LLC to discuss customer commitments and how to best preserve the existing order book. Padrick can be reached via e-mail or telephone 503/542-8870.
For more information, e-mail Nanette Metz or Randall Sanada at, or call 805/409-0426.
December 18, 2008