1. Total deliveries. 259 aircraft since the 31st of December 2006, although not all are currently in the hands of customers. Some have been retained in companies associated with EAC, or 'loaned' to ex CEO's. S/N 260 was in process of being delivered to a company who had paid EAC not less that $1,288,000 when the aircraft was 'seized' by the bankruptcy process. It's the subject of it's own legal action and I'm sure we will hear more.
2. 'Operations' income, per the 'Statement of Affairs' was $318,000 in 2006, $102,694,000 in 2007 and $210,185,000 (to the date of filing) in 2008. Interest earned (presumably from depositor funds) was $1,659,000 in 2006 and $4,047,000 in 2007. As a historical footnote, DayJet paid $20,000 in 2007, for something....
3. Current spending. In the calendar year prior to filing, EAC had paid $61,606,000 to creditors, and $85,443,000 was listed as the amount still owing. There was $81,455,000 (September 2008) of inventory in stock. There were 28 (give or take one, see s/n 260 above) FPJ's in production at the end.
4. Refunds. Something called "Olympus Aviation Corporation" looks like it was the last one to succeed in recovering a deposit ($175,000) which it did on or before 24th October 2008. That left 22 'pending' lawsuits seeking deposit refunds at time of filing. It's not clear how many aircraft these suits involve.
5. Property held for another person. There was $85,787,857 (and 64 cent) held by EAC, the vast majority of which is for 'City of Albuquerque' or 'Wesco Tools'. The items from Wesco I understand (tools etc) but the City seems to have provided all sorts of stuff, including computer servers and things like a 'Teletronics-Data acquisition unit -Exp AC 106' (listed at $53,523.79). The list is varied, and goes on for a long time.
6. Receivable balances. EAC list $20,720,225 as owing, mainly from customers.
7. Deposits. EAC list 'Creditors Holding Unsecured Nonpriority Claims' (and this is truly AWESOME) of $568,143,152.55. A chunk of this is money claimed by suppliers, but I gave up counting the number of 10% and 60% listed, after I got to 300. In another document, ETIRC were shown as having paid $8,900,650 (and 39 cent) as deposits for FPJ's. At least they had the sense to avoid the Con Jet, which tells its' own story...
Speculation, short term
Roel will buy the assets, probably with input from Al Mann. There will be a round of cuts, including staff reductions. Suppliers will be offered some small amount of cash (cents on the dollar) and be promised the earth to stay on board. Depositors well get some sort of 'coupon' to salve their wounds, but the price of the FPJ will be increased by a similar amount, so they will still have lost everything. Customers will be told that parts are more expensive and that all repairs must be paid in cash before return of the aircraft.
Speculation, medium term
Within a short period, probably less than 6 months, Roel will be facing further cash problems with suppliers and will end up having little or no choice on Chapter 7. Sales of aircraft were already tailing off, which is one of the reasons EAC ran out of cash in the first place. New victims will be hard to find, once the remaining Faithful (and there are very few left of them) have paid up for the aircraft he can build in that time.
Speculation, long term
Much more difficult, post Chapter 7. I wonder how the avionics can be supported, given the very high order of integration within the FPJ. AvioNG is touted as a major strength of the package, whereas most people see it as a liability. P&W can be relied upon to support the engines, but will be able to 'think of a price and double it'. The airframe will present special challenges when repairs to the FSW joints are required. Further AD's will present problems, and the whole area of 'upgrades' to keep EASA happy presents it's own pitfalls.
The facts presented in the Bankruptcy documents prove that the numbers don't add up now, and have never added up at any time. A whole range of people were sold a concept which had never any chance of becoming a reality. The City of Albuquerque, depositors, suppliers, banks and shareholders are all left nursing wounds they won't forget in a hurry.
I wish the new owners all the best of Irish luck. This 'business' is a crock, was always a crock and has no chance whatsoever of being anything other than a crock.
But I am biased.....