ICON Aircraft receives equity financing
ICON Aircraft has closed another round of equity financing and has enough resources to complete its ongoing flight test program and begin manufacturing its amphibious A5 light sport aircraft, company officials announced.
“The high investor confidence we’re seeing in ICON is due to ICON’s all-star team, the outstanding design of the A5, overwhelming market enthusiasm, ICON’s growing $40 million-plus in backlog sales, as well as the fact that the first two years of production are already presold,” said Kirk Hawkins, ICON founder and chief executive.
ICON’s A5 has met or exceeded flight test targets, and its first public flight demonstrations are scheduled for EAA AirVenture in Oshkosh, Wis., between July 27 and Aug. 2, company officials said. The airplane is scheduled to fly from land and water that week.
ICON also announced that it has delayed its production start by nine months and plans to begin delivering customer aircraft in the third quarter of 2011. The sleek, composite aircraft with folding wings will be under the light sport aircraft category.
Read detailed coverage of ICON in the August issue of AOPA Pilot.
July 9, 2009