The Eclipse Aviation Corporation has rolled out the Eclipse 500 jet in front of an audience of more than 1,500 customers, partners, investors, employeees and industry executives. This is the first public viewing of the six-person twin-engine jet aircraft.

“After years of hard work and innovation, the first Eclipse 500 test-flight aircraft is out of the hangar and close to taking flight,” said Eclipse ceo Vern Raburn. Retailing for $837,500, the aircraft flies at 355 knots and can travel 1,300 nautical miles.

The manufacturer has also announced the completion of its fourth round of private equity funding, totalling $18 million. The company has raised $238 million to date, garnered from a group of undisclosed private investors. “The Eclipse 500 is on track for certification in late 2003, and we are very comfortable with both our current financial situation and future funding prospects,” said Raburn.

Meanwhile, Eclipse Aviation Corporation has announced that it will partner with aerospace insurance underwriter Global Aerospace, to provide aircraft hull and liability insurance to owners of the Eclipse 500. Although it is too early to set premiums, Global expects them to be similar to those for existing aircraft, based upon anticipated training and customer support programmes that will be part of Eclipse’s product offering.

Information has also been disclosed on the Avio intelligent flight system, which will be available exclusively on the 500.

“Avio takes advantage of today’s digital electronics technology to place ‘intelligence’ throughout

the aircraft, which is controlled by redundant central aircraft computers that monitor and control the aircraft’s systems,” explained a spokesperson.