[7] In February 2021, One Aviation entered a Chapter 7 bankruptcy liquidation process, and in 2023, after its Eclipse assets were purchased by a new company, 550 production resumed with two deliveries that year.

[11] In August 2013 it was announced that the aircraft would incorporate autothrottles, new EFIS software, an anti-lock braking system and a high-resolution 3.25" x 4.3" standby display.

[15] One Aviation received EASA certification for its Eclipse 550 on 18 November 2015, clearing the way for sales of the light twinjet in the European Union and its use for air-taxi service there.

[7] However, after One Aviation's Eclipse assets were purchased in a Chapter 7 bankruptcy liquidation process, 550 production resumed in 2023 with two deliveries made that year.

NBAA IFR range would improve to 1,400 nmi (2,600 km), and it would cruise at Mach 0.65 (373 kn) at a higher ceiling of 43,000 ft (13,000 m).

[19] It is intended that "Project Canada" would eventually be designated as the Eclipse EA700, but it required an additional investment of US$50 million to complete the development.

It was intended to compete with similar light business jets like the HondaJet and the Embraer Phenom 100 and also with high-speed single turboprops such as the Daher TBM 930/910.

In 2017 it was forecast that the aircraft would be priced at $3.6 million and by July 2017 had received 30 orders, mostly from current owners, who would benefit from a trade-in program.

[21] Three prototypes were planned: the first, presented in August 2017 and developed from an Eclipse 500, sported an aerodynamically conforming wing and the next, also based on an existing plane, would test the FJ33.