Posts Tagged VLJ

North Carolina extends sales tax exemption to include US Airways and HondaJet

HondaJet

HondaJet

The North Carolina Senate voted at the end of its session to expand the sales tax exemption to flight simulators, aircraft lubricants, aircraft repair parts, and aircraft accessories.  The Senate ratified the bill just before its summer recess with a 42-1 vote intended to favor Charlotte hub operator US Airways and Greensboro based Honda Aircraft, manufacturer of the soon to be in service HondaJet. 

One of the newer entries into the Very Light Jet (VLJ) catagory is slated to enter service in late 2011. The aircraft features unique over the wing engine pods that Honda believes will increase cabin room and achieve greater aerodynamic efficiency in aircraft wing design.

The Senate bill 1057 must still pass in the N.C. House of Representatives to become law.  The House will adjourn on Tuesday ending its session for the summer.  Based on the equipment involved, the estimate is the tax break to be valued at $2M for the companies involved.

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New venture set to take over Eclipse Aviation

Eclipse Aviation 500

Eclipse Aviation 500

A consortium of investors, headed by Benefitfocus chairman Mason Holland Jr., and three others will invest $40M to take over the assets of bankrupt Eclipse Aviation to form a new company, Eclipse Aerospace. No other bidders had emerged to submit offers for the former Very Light Jet (VLJ) aircraft manufacturer by noon, August 14th.

Eclipse Aviation filed chapter 11 bankruptcy protection last November and ceased operation last March filing under Chapter 7 liquidation. Numerous potential bidders emerged in the final weeks for the tooling and other assets, but Eclipse Aerospace was the only offer to actually bid. They expect the sale to close on August 20th.

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