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Superior pays off $2.6M Kestrel Aircraft loan early
Superior was still responsible for repaying the bonds it had taken out on the company’s behalf after the company filed for bankruptcy. 12:00 pm, Mar. 4, 2021 ×
Kestrel Aircraft Co. CEO Alan Klapmeier speaks during a press conference about the Kestrel airplane at the Superior airport in 2012 as then-Wisconsin Gov. Scott Walker, left, and then-Superior Mayor Bruce Hagen listen. Klapmeier, also the co-founder of Cirrus Aircraft, resigned as Cirrus CEO in 2019. (File / Superior Telegram)
The Superior City Council closed the chapter on Kestrel Aircraft Company on Tuesday, March 2.
The company had hoped to revolutionize the general aviation industry by building its K-350 a turboprop, carbon composite airplane in Superior, creating 600 jobs. Kestrel announced it would be building its manufacturing facilities in Superior in 2012. They were never built.
By Murdo Morrison2021-02-26T18:00:00+00:00
The business began with a vow to disrupt a staid general aviation market by mass producing an entry-level jet for little more than the price of a piston aircraft.
Now, after more than 20 years of ambitious promises, missed targets, and run-ins with the bankruptcy courts, very-light jet (VLJ) pioneer Eclipse is again under new management, and operators of the Albuquerque-based manufacturer’s 280 or so in-service examples hope the turbulence is over.
Source: One Aviation
The original Eclipse 500 entered service in 2006
In early December, the assets of Eclipse Aerospace were acquired by AML Global Eclipse, a business backed by Thailand-based British entrepreneur Christopher Harborne, whose portfolio includes the Singapore-based AML Global business aviation fuel agency.