Eclipse Aviation targets financial stability as CEO Roel Pieper implements operational excellence program

Today Eclipse Aviation(r), manufacturer of the world's first very light jet (VLJ), announced a reduction in workforce as a result of its operational excellence strategy introduced by CEO Roel Pieper at AirVenture in Oshkosh, Wis., July 28, 2008. Eclipse is reducing its workforce by approximately 38 percent which includes temporary workers and people employed less than six months. The reduction is an effort to achieve financial stability as soon as possible. Eclipse is laying off approximately 650 employees affecting all departments and facilities including Albuquerque, N.M.; Gainesville, Fla.; and Albany, N.Y. Eclipse's total employment remains at about 1,100. The impact of this action will be a slowdown in the production of Eclipse 500s through 2008. In 2009, Eclipse intends to increase production back to previous levels and higher.

"In my effort to take Eclipse Aviation to the next level of growth and sustainability, I am 100 percent focused on operational excellence and a plan to achieve it," said Pieper. "Financial stability is critical for this company and unfortunately, a reduction in workforce was necessary to achieve it. I am confident this action will set the company on the path to profitability so that we can continue to lead the very light jet category."

Eclipse will not be releasing any further information or conducting interviews surrounding this press release at this time.