Can you say, "Desperate"? I knew ya could. Now, can you say... "We're going broke"? That's very good! One more time... say, "More deadlines expected." You did great!
Didn't this aircraft enter the mock buildup phase about six years ago? I'm sensing a lag in production.
By the time they get going to fill orders, the 787 line will be scrapped for another model.They've shipped a handful of Eclipse 500s. They won't say how many. About 15.
While Eclipse may be one of, if not the first, to make a jump toward VLJs, it seems they did it with far too many blind efforts. Cessna has been making small jets for decades with amazing success, much more than the originator of the small business jet. Although, I do wish Bill Lear would have improved the 8-track so it would still be around.Ya know, I feel kinda bad for Eclipse. It seems to me that someone always has to be the first to take the big risk to get a change started, and that someone usually doesn't reap the rewards. Think of Beechcraft and the Starship. Think of all the folks who jumped onto the VLJ movement only AFTER Eclipse got the market started - I bet the Cessna Mustang will be the only successful one for a while. Think of all the LSA makers who were finally "vindicated" (and some will go belly-up) when Cessna joined the market.
With any sort of major change, someone has to go first, and make all the mistakes, so the followers can do a better job. The key thing to remember about revolutionaries is they are usually shot once the revolution is successful.
Cirrus is the only "change agent" aviation company that seems to have had long term success after being an innovator, and they had some scary moments along the way - but I think they planned for those moments from the beginning.
I don't suppose they'll release documentation on exactly how this money will be use or has been used?
From the local news, here is another VLJ maker in trouble.
http://www.rockymountainnews.com/news/2007/dec/19/jet-builder-atg-faces-financial-woes/
And with two seats, the Javelin is more like a $3 million toy than personal transport. However, Eclipse has blown through ~$1.2 BILLION to deliver around 80 airplanes that are not yet really finished, AND they lose money on every airplane they deliver that was sold during the initial wave of low-price sales.Who didn't see that coming? I'm surprised they've made as far as they have.
The occasional disclosures have come from documents relating to New Mexico's financial incentive packages. And then when they DO get financing they'll say they closed on $X00 million. But no complete financial statements have been issued, so that $1.2 is a guess. Lots of other folks are saying $1.3, but what's a hundred million among friends? I try to speculate on the conservative side.Ken, is there anything published with regard to their financing and expense? Or, is the $1.2B an estimation from occasional disclosure?
I think that for Vern & Co. to make Eclipse work as a company, at a minimum Avio NG will have to get certified very soon AND work as advertised, the ice trials have to have no surprises -- like ice coming off the wing and being ingested by the engines, and service reliability will have to be very good. That's a lot to ask. Add in the known issues with the windows and tires, and it's very much a roll of the dice.While I'd like to see the concept succeed and later improve, I honestly don't believe it will happen. I fully expect them to sell out, merge or go under in the next twenty-four months.
I gather Bill Gates was once upon a time, an investor? Who, has most likely considered his money a write-off waiting to see which year he can claim it?Orphan Aircraft. As in, Gates told Vern no more $$s. Make it fly on its own. Sigh.