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Eclipse Aviation Corporation Secures Agreement from Aviace AG for Purchase of 112 Eclipse 500 Jets

  • Tuesday, May 28, 2002 12:50PM IST (7:20AM GMT)
Revolutionary Aircraft to Enable New Model of European Jet Club Operation; Extending Accessibility of Private Jet Travel
Albuquerque, N.M., United States: Eclipse Aviation Corporation, manufacturer of the Eclipse 500 jet and Aviace AG, a Switzerland-based international jet club today announced that Aviace AG has signed an agreement for the purchase of 112 of the advanced new jet aircraft. In Europe, flying clubs are an emerging phenomenon, offering private air travel solutions to frequent flyers. Aviace AG is in the process of establishing jet clubs in several European countries. Aviace intends to use the Eclipse 500 to bring jet clubs to every country in Europe including small airport destinations that travelers cannot currently reach through commercial air travel. In addition, the economic advantages of the Eclipse 500 will enable Aviace AG to significantly decrease the cost of this growing mode of private jet travel throughout Europe, allowing more people to use private jet travel as an alternative to commercial airlines. "Aviace's business model represents the innovative new services made possible by the breakthrough economics and operating characteristics offered only by the Eclipse 500 jet," said Vern Raburn, president and CEO of Eclipse Aviation. "It is exciting to witness what enterprising, visionary entrepreneurs can imagine and create with this paradigm-shifting new aircraft." The price of the Eclipse 500 is $837,500 (in June 2000 economics), less than a quarter of the cost of the least expensive jet being delivered today. It offers a direct operating cost of only 56 cents per mile, a range of 1,300 nautical miles and will be certified for single-pilot operation. Aviace has secured the agreement with a deposit. First deliveries of the aircraft are scheduled for 2004 with the remaining aircraft to be delivered in 2005 and 2006. "Aviace AG operations will be located throughout Europe and will be driven by the unique qualities of the Eclipse 500 jet," said Hilmar Hilmarsson, CEO of Aviace AG. "Our purchase of the Eclipse aircraft will allow us to create a network of aircraft that will make private jet travel affordable for a dramatically increased number of European travelers." ABOUT AVIACE AG Aviace AG is a Switzerland-based, international jet club, which is in the business of offering efficient, comfortable and effective solutions for frequent flyers. The company offers five different membership types tailored to meet diverse customer needs. The innovative Eclipse 500 aircraft will enable Aviace AG to make point-to-point, on-demand private jet travel available at attractive prices throughout Europe. Contact Aviace AG at http://www.aviace.biz ABOUT ECLIPSE Eclipse Aviation is in the business of designing, certifying and producing modern, affordable jet aircraft that will revolutionize the transportation market. The company is applying revolutionary propulsion, manufacturing and electronics systems to produce aircraft that cost less than a third of today's small jet aircraft, will be significantly safer and easier to operate than those of today, and have the lowest cost of ownership ever achieved in a jet aircraft. The goal of Eclipse is to bring the word "personal" into aviation, making it possible for commercial air passengers to move directly between cities on a quick, affordable and convenient basis. It will also allow pilot owners to enter the world of jet-powered aviation. Contact Eclipse at http://www.eclipseaviation.com. Eclipse and Eclipse 500 are trademarks of Eclipse Aviation Corporation.

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