Company Re-Opened Tuesday As Eclipse Aerospace

The airplane is sometimes called an airborne limo, but to it's fans, it represents the freedom to go places and do things quickly and efficiently in one's own private jet. It was that attitude that caused Mason Holland Jr. to go from trying to get back his deposit on an Eclipse 500 to spending $40 million to buy the company.

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"We're open," Holland told Albuquerque television station KOAT. "We closed on the transaction as of today (Tuesday) and we're ready to get started as Eclipse Aerospace."

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Holland and his business partners say the road to recovery will be slow. They will begin by servicing the 250 Eclipse Light Jets already flying, offering some upgrades as a means to generate revenue. They will also inventory the airplanes left unfinished when Eclipse closed due to bankruptcy in November. But eventually, Holland says, they hope to employ 500-600 people and resume manufacturing new aircraft.

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"This is a measured economy, so we've got to be very careful that we stay profitable first, growth second," Holland told the station. "We want to stay here for a long time. It's important we do it the right way."

But his feelings about the Eclipse 500 are summed up in a single sentence. "This airplane deserves to fly," he said.

FMI" www.eclipseaviation.com