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Thu, Oct 15, 2009

Eclipse Aerospace Hopes For Free Rent

Hopes To Swap An Unused Building At Double Eagle Airport

Eclipse Aerospace, which recently re-opened the Eclipse Aviation facility in Albuquerque, New Mexico, is asking the city to allow it to operate rent-free for five years, and forgive an additional $2.5 million in back rent owed by the former company.

The total package would be worth about $7.5 million.  In exchange, Eclipse Aerospace says it will give the city a 42,000-square-foot building at Double Eagle Airport. 

Television Station KEWS reports that City Councilman Ken Sanchez estimates the building is worth a little more than $8 million.

Eclipse Aerospace was the winning bidder in September in a bankruptcy auction of the assets of Eclipse Aviation. The company had made the Eclipse 500 VLJ. While Eclipse Aerospace is not currently building new jets, it is supporting the aircraft already in the field, and offering upgrades to those airplanes to generate revenue.

FMI: www.eclipseaviation.com

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