Sikorsky Takes Minority Stake in Eclipse Aerospace

AINalerts » February 3, 2011
February 3, 2011, 8:29 AM

Sikorsky Aircraft completed a “minority equity investment” in Albuquerque, N.M.-based Eclipse Aerospace yesterday. Neither company disclosed the value of the deal. An agreement “in principle” for Sikorsky to take a “substantial” minority stake in Eclipse was revealed in October at the NBAA Convention, and since then both parties have remained mum on the deal until yesterday’s announcement. As part of the agreement, Sikorsky will provide global supply chain support and certain production restart services, “which will aid Eclipse Aerospace in its efforts to reintroduce production of the Eclipse 500,” Sikorsky said. “Beyond the equity investment, we at Eclipse hope to draw from Sikorsky’s significant global supply chain resources and manufacturing experience,” said Eclipse chairman and CEO Mason Holland. For now, Eclipse is offering remanufactured Total Eclipse aircraft with full factory warranty, new paint and all-new interior. The very light jet manufacturer has not yet decided when it will restart Eclipse 500 production, saying only that it will do so “when the market is ready.” According to Eclipse, 260 Eclipse 500s are currently in service, and the fleet has logged more than 100,000 hours to date. Sikorsky president Jeff Pino owns and flies an Eclipse 500.

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