In this photo provided by Eclipse Aviation, eight Eclipse 500 aircraft are shown Sunday, Dec. 31, 2006, in Albuquerque. (AP Photo/Eclipse Aviation)

Eclipse granted Chapter 11 protection

Updated: Monday, 15 Dec 2008, 6:48 PM MST
Published : Monday, 15 Dec 2008, 6:48 PM MST

A federal bankruptcy judge in Delaware Monday approved Eclipse Aviation's plea for Chapter 11 protection.

That protection could help save the Albuquerque jetmaker and its 945 employees, but the company's future is still uncertain.

Eclipse now has to find a buyer and complete the sale before Jan. 12. If they don't, the company could be forced to shut down.

The good news is that two groups may bid to buy Eclipse, according to court documents.