Not a member? Join today. Already a member? Please login for an enhanced experience. Login Now
Menu

Eclipse promises customer refunds with interestEclipse promises customer refunds with interest

While it has suspended refund payments to customers who canceled Eclipse 500 orders after the recent price hike, Eclipse Aviation officials say they plan to fully pay the refunds with interest once the next round of funding closes before the end of the year.

The company notified position holders just before EAA AirVenture in July that it was temporarily suspending refund payments as a means of conserving cash. A company spokesman said the AirVenture announcement of a new round of funding linked to the departure of founder Vern Raburn caused some position holders to believe they would receive their refunds immediately. However, sufficient funds to complete the refund payments won’t be available until the entire finance deal closes, which is anticipated before the end of the year.

In addition, modifications of the 230-plus very light jets already delivered have also been suspended pending the additional funding. The only exception is that the company is attempting to install flight into known icing modifications for airplanes manufactured with the Avio NG avionics to allow those customers to fly in icing conditions this fall.

Meanwhile, the company continues to deliver airplanes. The second shift at the plant was shut down for two days because of a parts problem, but it is up and running again.

Thomas B. Haines

Thomas B Haines

Editor in Chief
AOPA Editor in Chief Tom Haines joined AOPA in 1988. He owns and flies a Beechcraft A36 Bonanza. Since soloing at 16 and earning a private pilot certificate at 17, he has flown more than 100 models of general aviation airplanes.

Related Articles