Eclipse Aviation sale approved

Eclipse Aviation will be known as EclipseJet Aviation International now that the U.S. Bankruptcy Court for the District of Delaware has approved the sale of its assets to EclipseJet Aviation International, Inc. A closing date is expected to be set in two or three weeks.

EclipseJet bid $28 million in cash, plus promissory notes and equity for the assets of Eclipse. In the meantime, Eclipse expects to continue its current operations through the closing date.

EclipseJet is an affiliate of ETIRC Aviation, Eclipse’s largest shareholder, and a principal driver of the very light jet industry in Europe. ETIRC Aviation’s Chairman, Roel Pieper, became the acting CEO of Eclipse in July 2008 and has served as Eclipse’s chairman since January 2008.