Icon Aircraft has announced a fresh round of equity financing for its unique A5 light-sport-capable amphibian. The company plans to have an A5 flying-from land and water-at this month’s EAA AirVenture show in Oshkosh. Founded by former fighter pilot and current airline pilot Kirk Hawkins, Icon holds a $40 million sales backlog and is sold out for the first two years of production, according to Hawkins. Deliveries of the two-place A5 are now scheduled to commence in the third quarter of 2011, a delay of some nine months from the original schedule. The A5 features electrically folding wings, though buyers must choose between the folding wings and the retractable wheel landing gear, as incorporating both would exceed the weight limits for the light-sport category. Target selling price for the A5 is $139,000. The latest round of financing is sufficient to complete the flight test program and bring the aircraft to production, according to Icon.
Icon A5 to Fly at AirVenture—With a Fatter Wallet
Key Takeaways:
- Icon Aircraft has secured a new round of equity financing to complete flight testing and bring its A5 light-sport amphibian to production, with deliveries now scheduled for Q3 2011 after a nine-month delay.
- The A5, priced at $139,000 and featuring electrically folding wings (with a trade-off for retractable landing gear to meet LSA weight limits), boasts a $40 million sales backlog, selling out the first two years of production.
- The company plans to showcase the A5 flying from both land and water at this month's EAA AirVenture show in Oshkosh.
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