PPRuNe Forums - View Single Post - DAE Flight Academy: Students' feedback please!
Old 6th Dec 2008, 10:58
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Mike.Park
 
Join Date: Dec 2008
Location: Manchester
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Chapter 11

Guys, Eclipse Aviation aren't going anywhere. They have filed for Chapter 11 which allot of companies do when it's crunch time and necessary to protect value & reduce debt. Companies are still allowed to operate (with limitation) under Chapter 11.

"In the face of unprecedented economic challenges, it is clear that the sale of the Eclipse business through the Chapter 11 process is the right course of action to maximize the value of the business, secure its future and protect the best interests of Eclipse's stakeholders, including customers, suppliers, employees and creditors," said Roel Pieper, CEO of Eclipse Aviation. "The successful sale will position the business for aggressive global expansion, allowing the company to fulfill its promise and solidify its position as the world's leading manufacturer of VLJs."
Full press statement here

DAE have little leverage over the financial well being of their suppliers. I'm assuming they'll have no choice but to lease training aircraft from a 3rd party if EA500 deliveries don't materialize in time.
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