ICON Aircraft Completes Sale to SG Investment America

The manufacturer had filed for Chapter 11 bankruptcy earlier this year, declaring $170 million in debt.

Amelia Walsh

Thursday, August 08, 2024 at 09:08 AM ET

Verified

Edited By:

Travis Tingle

New president Jason Huang, will lead ICON through the transition. [ICON Aircraft]

Key Takeaways:

ICON Aircraft has finalized its asset sale to SG Investment America, with the new entity continuing to operate under the same name.
The sale follows ICON's Chapter 11 bankruptcy filing, which cited $170 million in debt, with SG Investment acquiring the company for $15.79 million.
Under new president Jason Huang, ICON Aircraft is committed to maintaining high-quality aircraft production, service, and flight training operations.

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ICON Aircraft has successfully completed its asset sale to SG Investment America, with nearly all assets transferred to the new entity, which will continue to operate as ICON Aircraft.

The manufacturer filed for Chapter 11 bankruptcy earlier this year, declaring $170 million in debt. In June, legal filings showed SG Investment bought ICON for $15.79 million.