Bankruptcy Court Judge To Give Decision On Proposed Sale Tuesday

City officials in Albuquerque, NM anxiously awaited word of an outcome to Friday's hearing in a Delaware bankruptcy court -- hoping that if ETIRC, the proposed buyer of Eclipse Aviation's assets, gets the nod of approval, the company will elect to keep the manufacturing plant in the city.

Those officials -- as well as approximately 950 workers still employed at the struggling planemaker -- must wait a little longer for word on the next chapter in Eclipse's story. After testimony in Friday's hearing ran into the evening hours, the judge postponed a decision until Tuesday.

New Mexico politicians and lawmakers feel they did a lot to accommodate Eclipse. They voted for tax breaks and spent millions on road and water system improvements, hoping that Eclipse would grow and contribute much back into the local economy.

Even the Federal Aviation Administration pitched in with funding for a new control tower at Albuquerque's Double Eagle II Airport (AEG), in anticipation of a significant increase in air traffic once the company relocated its manufacturing facilities from a handful of buildings at the Albuquerque International Sunport (ABQ) and along South Broadway Blvd. In the works for over two years, the tower at AEG went online earlier this month.

But as the sale of Eclipse comes closer to becoming a reality, some are wondering if the new owners will keep the plant in Albuquerque... or if all their efforts, and taxpayers' dollars, were in vain.

City Councilman Ken Sanchez said, "We've made a big investment in the infrastructure out on Albuquerque's Westside. We all felt it was going to be a great success story. Those are some of the risks we take as policy makers; unfortunately in this particular case, it didn't work to our favor."

City Councilman Michael Cadigan said, "I guess the lesson we learned is buyer beware. The good news is we have a bunch of infrastructure out there ready to go when the economy turns around."

According to Albuquerque's KOAT-7, an Eclipse spokesperson said Friday that the company is hopeful that the sale to ETIRC (European Technology and Investment Research Center) will be approved, and that the factory will not have to be relocated.

FMI: www.eclipseaviation.com