Icon offers fractional ownership program for the A5

The first four Icon “fleet access” locations will be in Tampa, Florida; Miami; Los Angeles; and San Francisco.

"Fractional owners get all of the fun of owning and flying their own Icon A5s—and none of the hassles that have always been part of aircraft ownership," said Kirk Hawkins, Icon founder and chief executive. "We'll handle the insurance, maintenance, hangar, cleaning, scheduling, and staging—all the stuff that causes brain damage. Owners can just show up and fly."

Icon A5s with all the available options carry a retail price of $389,000. Fractional owners will be charged $225,000 for a half share, or $125,000 for a quarter share, as well as monthly management fees and $75 per flight hour.

Icon is gauging interest at locations around the country and will expand the number of ownership groups when it has sufficient demand.

Icon has completed about 50 airplanes to date and delivered about 35 to individual owners. The rest are being used for flight training at company-owned facilities in California and Florida.

Icon's A5 was a sensation when it was announced a decade ago, but the company has been beset by delivery delays and price increases as it has attempted to start high-rate production.

As prices have gone up, the company’s backlog has shrunk from a high of about 1,800 orders. The fractional ownership program is an attempt to bring prices down and boost demand.

Icon announced the fractional ownership program at EAA AirVenture in Oshkosh, Wisconsin, and began taking deposits for what it calls a "beta test."

If demand is strong, the company will create multiple ownership groups—and fractional owners will be able to fly A5s at a variety of locations around the country.

"We believe this concept will work," Hawkins said. "It's not going to be cheap. But it will provide access to great airplanes in scenic locations, and a lifestyle that people can’t even imagine."