5 April 2024
ICON Aircraft, manufacturer of the ICON A5 two-seat amphibious light sport aircraft, has filed for Chapter 11 bankruptcy protection while it seeks a new owner and investment.
Chapter 11 allows the Californian company to continue to produce and sell aircraft and support customers.
Jerry Meyer, CEO of ICON Aircraft, said, “We plan to continue to produce and sell aircraft and provide first-rate service, training, and support to our customers.
“We believe this process will enable the business to address its current challenges and emerge with new ownership – stronger than ever – and continue building amazing planes with a focus on innovation, safety, and incredible flying experiences.”
As recently as last December, ICON achieved FAA type certification for the A5 allowing it to sell the $360,000 aircraft outside the US. In February this year, ICON announced an increase in gross weight of 60 lb (27kg) and a higher useful load of 490 lb (222kg).
Meyer continued, “The purpose of the Chapter 11 filing is to resolve the Company’s financial challenges and position the A5 for success for years to come. We understand that this situation creates a hardship for everyone involved.
“However, without taking these steps, there is not a viable path forward for the business to do what we do best – build incredible airplanes and support our aircraft owners.”
For more information about the Company’s Chapter 11 case, including claims information, click here.
