ALBUQUERQUE, NM - November 14, 2008 - Today, Eclipse Aviation(r) confirmed it was unable to meet its payroll obligations due on Thursday, November 13, 2008. Employees will receive their pay no later than Tuesday, November 18, 2008. Contrary to media reports, there were no layoffs involved in this unfortunate situation. While the company resolved the issue, employees were given the choice to continue working or go home. The company expects to have its full workforce in place on Monday, November 17, 2008.
The Board of Directors and executive management of the company continue to work diligently on a long-term financial solution for its business.
Eclipse will not be releasing any further information at this time, and will not be conducting interviews surrounding this media alert.
About Eclipse Aviation
Eclipse Aviation(r) is the world's leading very light jet (VLJ) manufacturer, producing innovative, affordable jets that are revolutionizing air transportation. The company created the VLJ category with the design, certification and delivery of the Eclipse 500(r) - the industry's first VLJ. Eclipse applies advances in technology, manufacturing processes and business practices to create high-performance aircraft that provide the lowest cost of jet ownership ever achieved. By changing the value proposition for private jet travel, Eclipse is allowing more pilots to enter the world of jet-powered aviation and enabling a new generation of entrepreneurs to help business travelers move between cities on a quick, affordable and convenient basis. Contact Eclipse at www.eclipseaviation.com.