Eclipse Aviation, manufacturer of the world’s first very light jet (VLJ), will expand its partnership with European Technology and Investment Research Center (ETIRC) Aviation. The agreement between the two companies includes an equity investment by ETIRC in Eclipse that is substantially in excess of $100 million. The agreement also provides for significant additional financial benefits to Eclipse as agreed commercial objectives are realized. Upon completion of the equity investment ETIRC will be the single largest shareholder of Eclipse Aviation. ETIRC CEO Roel Pieper has been elected non-executive Chairman of Eclipse Aviation.
ETIRC is currently the exclusive provider of sales, customer service, maintenance support and flight training for the Eclipse 500 in the countries of Eastern Europe, the Russian Federation, the Commonwealth of Independent States and the Republic of Turkey. Under the new arrangement, ETIRC will add Western Europe and the United Kingdom to its distribution and services area. As a result ETIRC will be the exclusive partner for Eclipse in more than 60 countries.