Bankruptcy Filed For Icon Aircraft While Icon Aircraft, known for making the Icon A5 Amphibious Light Sport Aircraft became popular in certain circles JF tends not to cover this end of the market. However, there is news that this company has filed for bankruptcy. They have filed for Chapter 11 bankruptcy and restructuring plans take in the possibility of selling the company. This sounds familiar like what has been happening with Piaggio Aerospace...which still cannot find an appropriate buyer.
Approximately this time last month, Icon Aircraft and three debtors named as Rycon, IC Technologies, and Icon Flying Club filed for protection at the United States Bankruptcy Court for the District of Delaware. While they will be looking to sell the company its highest interest is still continuing to support the existing Icon A5 customers as well as sell planes. "We plan to continue to produce and sell aircraft, and provide first-rate service, training, and support to our customers," said Icon CEO Jerry Meyer.
"The purpose of the Chapter 11 filing," Meyer explained, "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: Icon Aircraft 2141 ICON Way Vacaville, CA 95688 www.iconaircraft.com ***
