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US Congress, FAA to review Eclipse 500 certification
www.flightglobal.com | Aug 20, 2008
Separate reviews of the Eclipse 500 very light jet (VLJ) certification processes are underway by the US Federal Aviation Administration (FAA) and the US Congress.
FAA, Congress Scrutinize Eclipse 500 Very Light Jet
www.aviation.com | 10 hours 14 minutes ago
Problems reported by operators of the Eclipse 500 Very Light Jet (VLJ) and a grievance citing Eclipse 500 safety and regulatory issues filed by the union representing federal aircraft certification personnel have prompted unusual government action.
http://www.aviation.com/business/080821-faa-eclipse500-review.html
FAA conducts special certification review of Eclipse 500 jet
aviation-safety.net | 19 hours 19 minutes ago
21 AUG 2008 FAA conducts special certification review of Eclipse 500 jet On August 11, the U.S. Federal Aviation Administration (FAA) began a 30-day review of Eclipse Aviation s Very Light Jet, the Eclipse 500.
FAA, Congress Revisit Eclipse 500 Certification.
planenews.com | Aug 20, 2008
FAA inspectors are conducting a special certification review of the Eclipse 500 jet. The move is apparently in preparation for a Sept. 17 congressional hearing questioning the FAA’s awarding of a type certificate to the company in 2006.
http://planenews.com/modules.php?name=News&file=article&sid=9768
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Eclipse-500
www.flightglobal.com
link to Flight Global Image Archive Cutaways/NBAA Cutaways and Posters/BizAv Cutaways - Eclipse-500 Image 15 of 29 Follow progress of the archive in our blog Spread the word: relatedbookmark it!diggit!reddit!Newsvine Contact Us | Disclaimer | Terms & Conditions | Privacy Policy © Reed Business
Aero Eclipse 500 for sale by camcoda from 2005
Serial no.: 500 Registration No.: 012457 Manufacture year.: 2005 Price.: 7000 $ Add Type.: Sale Available From.: 11-8-2007 Paint.: good Aircraft, General.: sweet for any who want to buy it for persola use. Interior.: 1 bath a bed rom and a seatin suit Exterior.: best condition Time since new.
Untitled Eclipse 500
www.airliners.net
Photo Copyright © Mark Carlisle, all rights reserved. Airliners.net is not affiliated with any entity mentioned or pictured herein. All trademarks are the property of their respective owners.
Eclipse Aviation - Eclipse 500 - Eclipse - ATI, Air Transport Intelligence - ATI – Air Transport
www.rati.com
Please Note Air Transport Intelligence (ATI) contains a wealth of information on aircraft such as dimensions, engines used, cruise performance, speeds, configuration, weights, payloads and field lengths However, this information is only accessible to subscribers.
News from Zibb.com
Total : 39 View more »
ONE CHARTER PLC - Final Results - Zibb.com
Jul 31, 2008 (PR Newswire Europe via COMTEX) --
31st July 2008
One Charter PLC
(PLUS: ONCO)
FINAL RESULTS
FOR THE YEAR ENDED 29TH FEBRUARY 2008
The Board of One Charter PLC ("One Charter" or "the Company"), a business that
is focused on providing aircraft chartering, aircraft brokerage and aircraft
management services, is pleased to announce its final unaudited results for the
twelve-month period to 29th February 2008.
HIGHLIGHTS
* A 144% increase in revenues from GBP833,045 in 2007 to GBP2,033,064 in 2008 in
the year to 29th February 2008.
* Cargo operation launched successfully and now starting to generate revenues
* In March 2007 the Company entered into an agreement to purchase a Cirrus
SR22 G3 aircraft for a total cost of GBP267,802, funded through a mixture of
existing cash resources and debt finance.
* In January 2008, the Company moved its base from Farnborough Airport to
Fairoaks Airport and has seen no reduction in requests for flights in
recent months. The move has resulted in a reduction in costs.
Commenting on the results, Mike Ryan, CEO of One Charter, said: "I am proud to
present our results for the year to February 29th 2008. We have made tremendous
progress over the period and I am pleased to say that the number of enquiries
for aircraft brokerage division has risen translating directly into increased
revenues. Since the year end, the Company's subsidiary One Air Taxi was awarded
an Air Operating Certificate and One Charter received its first management
contract for an Eclipse aircraft. We look forward to building on our position
in the current year."
--ENDS--
The Directors of the Issuer accept responsibility for this announcement
ENQUIRIES
ONE CHARTER PLC
Mike Ryan
CEO and Director
TEL: 020 8122 9300
RIVINGTON STREET CORPORATE FINANCE
Monisha Varadan
TEL: 02075623389
monisha@rs-cf.com
Leo Godsall
TEL: 02075623393
leo@rs-cf.com
CHAIRMAN'S STATEMENT
I am pleased to be able to present my first report to you as Chairman.
The results for the year are in line with expectations and show a turnover of
GBP2,033,064 (2007 - GBP833,045) and a gross profit of GBP109,054 (2007 - GBP55,852).
The increased revenue is largely down to higher number of requests for
chartered flights handled by our brokerage division. For the period, the total
number of bookings increased from 70 in 2007 to 137 in 2008. The quality of
passenger contracts has improved. Our cargo division has started generating
revenues.
The loss before tax and loss per share for the period amounted to GBP428,484
(2007 - GBP404,975) and 0.40p (2007 - 0.44p) respectively. The increased losses
are a result of costs associated with the application for the Air Operating
Certificate. (AOC)
As at 29 February 2008, cash balances were GBP53,815 (2007 - GBP422,437).
Review of Activities
Much of the year to 29th February 2008 was spent on preparing and applying for
the AOC.
In March 2007, the Company entered into an agreement to purchase a Cirrus SR22
G3 aircraft for a total cost of GBP267,802, funded through a mixture of existing
cash resources and debt finance. The aircraft was delivered in July 2007 as a
basis for the AOC application. Following the receipt of the AOC (see post
balance sheet events), the company has started marketing the charter service
and has booked its first few enquiries and completed revenue generating
flights. One Air Taxi Limited is the first operator of the updated version of
the Cirrus SR22 GTS in the country. In January, the Company moved its base from
Farnborough Airport to Fairoaks Airport, and has seen no reduction in requests
for flights in recent months. The move has also resulted in a reduction in
costs.
Post Balance Sheet Events
In May 2008, One Air Taxi Limited, a subsidiary of One Charter PLC was granted
the AOC by the UK Civil Aviation Authority and was also one of the first
companies to be awarded the certificate under the new European Operational
Requirements. All Airlines and Private Aircraft Operators, by 15th July 2008,
should have applied for and been awarded this new certificate in order to
continue operating commercial flights.
The Company secured its first aircraft management contract with the private
owner of an Eclipse 500. The aircraft will be operated on a private basis only
for the owner until the aircraft is certified for commercial operations,
possibly in 2009. Similar management contracts are under discussion with other
Eclipse owners, and this is in line with the Company's business plan. With the
price of oil rising, we are especially pleased to be operating the world's most
fuel efficient jet for our client. Along with the aircraft's low noise
footprint and carbon emissions, we are proud to be one of the first companies
in Europe to operate this new generation light jet aircraft.
One Track Software Limited, where the Company has a 30% equity interest, has
won its first contract. The software manages all the functions associated with
operation of a public air transport company from initial quotations, to
deployment of aircraft and crew scheduling.
In July 2008, Mike Nash resigned as a non-executive director to pursue other
business interests. I would like to thank him for his efforts on behalf of the
Company.
Outlook
The Directors are satisfied with the performance of the Company to date and
expect that the next reporting period will continue to show the potential
growth in the business.
Sonny Leong
CHAIRMAN
Consolidated Income Statement for the year to 29th February 2008
Year ended Period
2008
20.02.06 to
28/02/07
GBP GBP
Revenue 2,033,064 833,045
Cost of sales (1,924,010) (777,193)
----------- ---------
Gross Profit 109,054 55,852
Administrative expenses (573,113) (426,288)
----------- ---------
Loss from Operations (464,059) (370,436)
Finance revenue 9,425 15,461
Finance costs (9,603) -
----------- ---------
(464,237) (354,975)
Amounts written off investments - (50,000)
----------- ---------
Loss before Tax (464,237) (404,975)
Taxation - -
----------- ---------
Loss for the Period (464,237) (404.975)
Minority interest - equity (35,753) -
----------- ---------
(428,484) (404,975)
=========== =========
----------- ---------
Basic and diluted loss per share (0.003) (0.44)p
=========== =========
Consolidated Balance Sheet for the Year ended 29th February 2008
Year ended Period ended
2008 2007
GBP GBP
Assets
Non-current assets
Property, plant and equipment 251,801 3,006
Investment in associates 300 -
--------- ---------
252,101 3,006
Current assets
Trade and other receivables 178,356 277,659
Cash and cash equivalents 53,815 422,437
--------- ---------
232,171 700,096
--------- ---------
Total assets 484,272 703,102
========= =========
Equity
Issued share capital 124,250 107,500
Share premium account 956,846 799,346
Shares to be issued reserve 7,574 24,324
Retained losses (833,459) (404,975)
--------- ---------
Equity attributable to equity holders of 255,211 526,195
the parent
Minority interest (35,728) -
--------- ---------
Total Equity 219,483 526,195
--------- ---------
Non-Current liabilities
Borrowings 117,749 -
--------- ---------
117,749 -
Current liabilities
Trade and other payables 147,040 176,907
--------- ---------
147,040 176,907
--------- ---------
Total liabilities 264,789 176,907
--------- ---------
--------- ---------
Total Equity and liabilities 484,272 703,102
========= =========
NOTES:
All the activities of the Company are classed as continuing.
The Company has no recognised gains or losses other than the results for the
year as set out above. These financial results have been reviewed by the
Company's auditors Haines Watt.
The above figures are an abridged version of the Company's unaudited accounts.
The financial information included in this announcement does not comprise
statutory accounts within the meaning of Section 240 of the Companies Act 1985.
END
Tags: aircraft airport business cargo ceo commercial contract corporate debt equity europe executive finance financial results investment marketing oil plant property revenue sales software tax track trade
Honeywell delivers NGS to Boeing - Zibb.com
Jul 29, 2008 (AIRLINE INDUSTRY INFORMATION via COMTEX) --
Honeywell (NYSE:HON), a diversified technology and manufacturing company, has announced that it has delivered the Nitrogen Generation System (NGS) for the Boeing Next-Generation 737 aircraft.
The NGS is intended to reduce flammability and thus increase aircraft safety through delivering nitrogen enriched air to the aircraft centre fuel tank.
The US Federal Aviation Administration, Department of Transport and National Transportation Safety Board recently announced that within two years all new aircraft must have technology to reduce the risk of centre fuel tank fires installed.
Comments on this story may be sent to aii.feedback@m2.com
Tags: aircraft aviation federal manufacturing nyse technology
Companies: Honeywell International, Inc. (HON)
Albany International Provides Update on Short-Term Prospects in the Composites Business - Zibb.com
ALBANY, N.Y., Aug 19, 2008 (BUSINESS WIRE) --
Albany International Corp. (NYSE:AIN) reported today that Eclipse Aviation, a significant customer of Albany Engineered Composites (AEC), has indicated that it was substantially reducing production of the Eclipse 500 jet, and planned purchases of components from AEC and other suppliers, for the remainder of 2008 and the first half of 2009. Based on information provided to date by Eclipse, purchases of AEC components are thereafter expected to return to and then exceed previous levels.
Sales to Eclipse have accounted for a significant portion of AEC's 2008 revenues, as well as a significant portion of production at AEC's facility in Boerne, Texas.
The Company has earlier indicated that the near-term annual sales growth potential of AEC was approximately 35 percent, and that AEC had reached break-even profitability at the end of the second quarter of 2008. While the Company expects that aggregate revenues for 2008 will still exceed 2007 revenues by 35 percent or more, lower sales to Eclipse will reduce Q3 and Q4 sales growth significantly. Profitability of AEC, which had become positive at the end of Q2 2008, is now expected to fall below break-even and remain below break-even until Q1 or Q2 2009.
The delayed sales are also expected to reduce the rate of 2009 revenue growth substantially. The Company still expects substantial growth in non-Eclipse AEC revenues in 2009, but an overall 2009 compound annual growth rate of 35 percent over the base year 2007, while still achievable, is now less certain.
The Company will provide an update of management's view of AEC's near-term growth prospects in future earnings releases. In the meantime, these developments have not diminished management's continued belief in the previously expressed long-term growth potential of the AEC business.
Albany International is a global advanced textiles and materials processing company. Its core business is the world's leading producer of custom-designed fabrics and belts essential to the production of paper and paperboard. Albany's family of emerging businesses extends its advanced textiles and materials capabilities into a variety of other industries, most notably aerospace composites, nonwovens, building products, and high-performance industrial doors. Additional information about the Company and its businesses and products is available at www.albint.com.
SOURCE: Albany International Corp.
Albany International Corp. Investors: John Cozzolino, Vice President of Strategic Planning 518-445-2281 john.cozzolino@albint.com Media: Susan Siegel, Director of Corporate Communications 518-445-2284 susan.siegel@albint.com
Tags: aerospace aviation business earnings family industrial nyse products revenue sales texas textiles
Companies: Albany International Corp. (AIN)
Group Faults Nimasa Ship Acquisition Fund - Zibb.com
Lagos, Jul 28, 2008 (This Day/All Africa Global Media via COMTEX) --
Indigenous Ship Owners Association of Nigeria (ISAN) has said the $21 million the Nigerian Maritime Administration and Safety Agency (NIMASA) planned to disburse to shipping operators was too small.
ISAN's President, Chief Isaac Jolapamo said in Lagos, that the amount was peanuts, which would not make much impact on the maritime sector.
He noted that the Cabotage Vessel Financing Fund (CVFF), which had taken off after several years after endless waiting by the operators was a good omen to the industry.
It would be recalled that the Director-General of NIMASA, Dr Ade Dosunmu, had on July 13, in Lagos said five operators would benefit from the $21 million so far generated by the CVFF.
Jolapamo, however, said the amount was too small, saying that it cost as much as $5 million to purchase a 15-year-old ship.
"Any ship of lower age will cost more than $10 million, depending on the size and the specifications, " he said.
Jolapamo warned that the disbursement of the money should not be politicised, and suggested that the criteria should specify that no beneficiary should be less than 10 years old in the shipping business. He added that all the beneficiaries must have also managed vessels.
The Coastal and Inland Shipping (Cabotage) Act 2003 made a provision for the CVFF to assist indigenous ship operators to own ships.
The CVFF derives its revenue from the statutory two per cent of the sum of contracts executed by companies registered for the Cabotage business in Nigeria.
The Act provides that disbursements from the fund should be through banks
and shipyards, a development which observers believe would prevent a situation in which borrowers refused to pay back their loans.
Tags: acquisition business nigeria president revenue ship shipping
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