328:
and its shares, all in support of its goal to expropriate Icon’s intellectual property to China." In a statement, Condit wrote, "I believe strongly that good governance is at the very heart of a trustworthy economic system. The board has a fiduciary responsibility to all shareholders and without that trust, critical investments cannot be made. If
Chinese investments are masquerading as venture capital to gain access to U.S. technology, it violates this trust … the investments by PDSTI in Icon were never intended to make the company successful. Rather they were part of a plan to gain technology and defraud minority shareholders."
367:
270:
processes to build the aircraft design. The company also announced that, as a result of issues involving starting production, it would lay off 60 employees and terminate 90 contractors, leaving 160 employees at work. The CEO indicated that the company has the investors and funding required to continue operations through this period, before production is increased and the company can become profitable.
29:
285:, near the company's training facility. Killed in the accident were two Icon employees: lead engineer and chief company test pilot Jon Karkow, who was the pilot in command; and Cagri Sever, Icon's director of engineering, who was a passenger on the flight. Karkow had been involved in the design of the A5's folding wings as well as parts of the aircraft's control systems. The
401:
by the manufacturer but must be maintained by the owner. Owners also must agree to be "supportive" of the company. In the case of a resale, future owners are required to sign the same agreement or face penalties. There are indications that a number of A5 position holders have canceled their purchases based on the wording of the agreement.
198:(LSA). The aircraft entered production in 2016. ICON is known for having brought significant excitement and publicity to the LSA industry since the A5's debut in 2008, although legal, financial and developmental issues, as well as a string of early accidents, have slowed company production and growth since 2016. The company filed for
400:
was made public and was noted by the aviation media as containing many controversial elements not usually found in aircraft purchase agreements. These include contractually-required pilot training, maintenance, agreements not to sue, and a camera and recorder to monitor pilot behavior, that is owned
327:
The suit states, "since becoming the controlling stockholder of Icon in 2017, PDSTI has disregarded its duties to minority shareholders, seized control of the management of the company, operated Icon as its own property, and systematically dismantled the company, thereby destroying the value of Icon
404:
In May 2016, the company admitted that the released contract had been a mistake. Company CEO, Kirk
Hawkins, stated, "it should not have gone out in the form it went out without an explanation. had a right to be taken aback." The company issued a revised contract that removed many, but not all, of
269:
In May 2016, the company announced that only 20 aircraft would be completed in 2016, instead of the previously planned 175 and that all these would go to training centers. Customer deliveries were announced as being delayed until 2017 at the earliest, due to the need to improve the manufacturing
345:
were investigating the deal for potential criminal violations as well as national security concerns. The complaints alleged that the
Chinese take-over had military implications, saying the aircraft could be used as a military drone. ICON denied the accusation, saying "the plane is loaded with
253:
aircraft was built in 2007–2008, and made its first flight in July 2008. The company publicly launched the A5 in Los
Angeles at a private event on June 11, 2008. ICON has also acknowledged the possibility of releasing additional models in the future, but maintains that it will focus on the
261:
From 2008 to 2014, the proof of concept aircraft flew more than 700 development flights, and the construction of the first production aircraft began in early 2014. It made its first flight in July 2014 and the company announced that the first customer deliveries were expected in May 2015.
346:
stylistic and safety features that make the plane wholly unsuited for military application" and indicated the move was just an attempt by former CEO Kirk
Hawkins to regain control of the company after having invited Chinese investment by PDSTI.
300:, Chinese investment needed by the company was cut in August 2019. This necessitated laying off 40% of the company workforce and cutting aircraft production to fewer than five aircraft per month, from a target of 20 aircraft per month.
265:
ICON Aircraft has completed four rounds of equity financing. It completed its A round in June 2006 and its B round in July 2008. A $ 25 million C round was closed in June 2011 and a $ 60 million D round was announced in June 2013.
292:
Hawkins resigned as CEO in
November 2018. He stayed on at the company in an undefined role and President and COO Thomas Wiener headed the company on an interim basis until July 2020, when Jason Huang was named president.
385:
to be priced at approximately $ 189,000. Its folding wings facilitate transportation and storage, and it will have a range of approximately 300 nautical miles (560 km) and a top speed of 105 knots (120 mph).
392:
On July 28, 2014, ICON Aircraft unveiled the first production ICON A5 built with production tooling and using production methods and components. This aircraft successfully completed its first flight July 7, 2014.
1509:
1638:
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The company had nearly 1400 orders in August 2014 and at that time anticipated the first customer delivery in May 2015, although the first official A5 customer deliveries did not occur until 2016.
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would become one of the key strategic supplier partners for the ICON A5 amphibious light sport aircraft. The companies agreed that Cirrus, the manufacturer of the leading
289:
determined that the cause was "the pilot's failure to maintain clearance from terrain while maneuvering at a low altitude." The board found no fault with the aircraft.
1513:
1413:
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1183:
1038:
358:, listing assets and liabilities between $ 100 million and $ 500 million. The company is considering other options to save itself, including a possible sale.
1633:
188:, United States. It was founded in 2006 by two Stanford graduates, aviator Kirk Hawkins and product designer Steen Strand, to develop and certify the
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lines of high-performance single-engine aircraft, will produce a significant portion of the composite airframe components for ICON Aircraft in their
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211:
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1608:
1510:"Cirrus Aircraft News - ICON Aircraft and Cirrus Aircraft to Partner on the Production of the ICON A5 Amphibious Sport Plane"
900:
447:
In
September 2016, the company announced that production of the composite parts would be undertaken at a facility in Mexico.
1175:
956:
308:
In June 2021, a group of minority shareholders in ICON Aircraft, including former ICON board member and ex-Boeing CEO
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class of pilot. Kirk
Hawkins and Steen Strand founded the company in 2006. Hawkins had previously flown
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421:, where the company was founded. ICON formerly operated an engineering and manufacturing facility in
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238:. Strand's background is in product design, marketing, and finance, and he founded
28:
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433:
309:
219:
820:
493:"ICON's Mission | Bring the Freedom, Fun, and Adventure back to aviation"
231:
1153:
1109:"Icon Stockholders Sue To Block Alleged Illegal Technology Transfer to China"
1086:
1073:"Chinese Investment in U.S. Plane Maker Draws FBI, National-Security Reviews"
1144:
1279:"TenCate supplies composites to ICON Aircraft A5 Amphibious Sport Aircraft"
507:"The Ultimate Flying Machine: Sexy as a Sports Car, Portable as a Jet Ski"
239:
52:
560:"ICON A5 Folding Plane Looks Like Sportscar, Costs as Much as Maserati"
492:
397:
378:
370:
274:
189:
1414:"Guest Speaker: Bringing The "Sport" Back To Flying (Kirk Hawkins)"
901:"Icon A5 Crash Kills 2, Including the Unique Plane's Lead Engineer"
365:
223:
1591:
1231:"Icon Aircraft Files Chapter 11 Bankruptcy As It Pursues Sale,"
1206:"Maker of Amphibious Aircraft Files Bankruptcy, Considers Sale"
164:
102:
312:, and former ICON CEO Kirk Hawkins, filed a lawsuit with the
707:"ICON Aircraft Constructs and Flies First Production A5"
740:"First production Icon A5 makes a splash at AirVenture"
1639:
Companies that filed for
Chapter 11 bankruptcy in 2024
1140:"FBI investigates Chinese investment in US planemaker"
1512:. Cirrusaircraft.com. August 6, 2012. Archived from
1176:"Government Investigates Chinese Investment In ICON"
343:
Committee on
Foreign Investment in the United States
795:"Icon Delays Deliveries, Amends Purchase Agreement"
660:"ICON Aircraft Launches New Amphibious Sport Plane"
425:, where the A5 was initially developed and tested.
159:
149:
139:
93:
82:
70:
58:
48:
38:
1384:"Icon Production Delays: The Inevitable Explained"
638:"Start-Up Wants A New Audience To Take to the Air"
210:ICON Aircraft was founded in response to the 2004
1537:"Icon Moving Composite Production Work to Mexico"
1358:"Icon: A Dark View Of The Customer Relationship"
929:"NTSB Releases Preliminary Icon Accident Report"
324:(PDSTI), from transferring technology to China.
1305:"ICON Constructs and Flies First Production A5"
788:
786:
1239:Intelligence Network, retrieved April 4, 2024.
1138:Calgary, Charlie Mitchell (January 19, 2022).
849:"Icon's lead test pilot killed in A5 accident"
613:. EAA Sport Aviation Magazine. Archived from
322:Pudong Science and Technology Investment Inc.
8:
1644:Privately held companies based in California
1624:Companies based in Solano County, California
733:
731:
413:ICON Aircraft's headquarters are located in
21:
1629:Manufacturing companies established in 2006
1619:Manufacturing companies based in California
1614:Aircraft manufacturers of the United States
1332:"Icon's Buyer Contract Restricts Liability"
461:
459:
428:On August 6, 2012, it was announced that
354:On April 4, 2024, ICON Aircraft filed for
27:
20:
1563:"Icon A5 Inches Toward Serial Production"
1462:"FAA Audit clears Icon A5 for Production"
1039:"Icon Reduces Workforce, Cuts Production"
553:
551:
524:
522:
520:
766:"Icon raises $ 60 million to produce A5"
455:
242:, a skateboard company. The two met at
853:Aircraft Owners and Pilots Association
770:Aircraft Owners and Pilots Association
744:Aircraft Owners and Pilots Association
472:Stanford University Alumni Association
1186:from the original on January 24, 2022
1119:from the original on January 15, 2023
1066:
1064:
585:"Steen's new project – Icon Aircraft"
7:
287:National Transportation Safety Board
1071:O’Keeffe, Kate (January 18, 2022).
957:"NTSB Completes Icon Investigation"
738:Haines, Thomas B. (July 28, 2014).
377:ICON Aircraft's first model is the
246:in a Product Design class in 1993.
1561:Rapoport, Geoff (March 17, 2017).
1535:Pope, Steven (September 7, 2016).
1019:from the original on July 18, 2020
14:
1634:2006 establishments in California
1382:Bertorelli, Paul (May 26, 2016).
558:Pappalardo, Joe (June 11, 2008).
1174:Niles, Russ (January 23, 2022).
1045:. August 2, 2019. Archived from
1007:O'Connor, Kate (July 15, 2020).
981:Niles, Russ (November 8, 2018).
134:(Vice President of Global Sales)
1436:"ICON to relocate to Vacaville"
1356:Bertorelli, Paul (April 2016).
1249:Hirschman, Dave (August 2009).
927:Bergqvist, Pia (May 17, 2017).
847:Hirschman, Dave (May 9, 2017).
636:Pasztor, Andy (June 12, 2008).
339:Federal Bureau of Investigation
212:Federal Aviation Administration
955:Grady, Mary (August 9, 2017).
819:Pope, Stephen (May 26, 2016).
320:majority company shareholder,
16:American aircraft manufacturer
1:
1107:Phelps, Mark (June 8, 2021).
875:"Two Killed In Icon A5 Crash"
398:ICON A5 purchaser's agreement
298:China–United States trade war
273:In May 2017, a factory-owned
1488:"Backstage With A Rock Star"
1416:. Plane & Pilot Magazine
793:Niles, Russ (May 25, 2016).
764:Moore, Jim (June 20, 2013).
682:"ICON Aircraft: The Company"
529:Pae, Peter (July 28, 2008).
405:the controversial elements.
218:(LSA) class of aircraft and
899:Adams, Eric (May 9, 2017).
873:Grady, Mary (May 8, 2017).
129:(Vice President of Finance)
1660:
1330:AVweb Staff (April 2016).
1009:"ICON Names New President"
531:"Built for just plane fun"
381:, an amphibious two-seat,
983:"Hawkins Out As Icon CEO"
640:. The Wall Street Journal
442:Grand Forks, North Dakota
373:with wings folded in 2010
184:company headquartered in
26:
1468:. Yaffa Publishing Group
466:Maas, John (June 2009).
277:crashed on the shore of
1251:"Starting a Revolution"
1078:The Wall Street Journal
821:"What's Next for Icon?"
419:Los Angeles, California
334:The Wall Street Journal
316:to prevent the Chinese
314:Delaware Chancery Court
283:Napa County, California
228:United States Air Force
220:Sport Pilot certificate
64:Los Angeles, California
374:
182:aircraft manufacturing
1609:Vacaville, California
1466:Australian Flying.com
1440:General Aviation News
423:Tehachapi, California
415:Vacaville, California
369:
356:Chapter 11 bankruptcy
214:establishment of the
200:Chapter 11 bankruptcy
186:Vacaville, California
110:(President from 2020)
87:Vacaville, California
1285:. September 16, 2014
513:. December 22, 2008.
383:light-sport aircraft
256:light-sport aircraft
216:light-sport aircraft
196:light sport aircraft
180:is a privately held
144:Light-sport aircraft
124:(CEO from 2006–2018)
1490:. Plane & Pilot
662:. Aero News Network
617:on November 7, 2011
396:In April 2016, the
244:Stanford University
178:ICON Aircraft, Inc.
151:Number of employees
23:
22:ICON Aircraft, Inc.
375:
337:reported that the
202:in April of 2024.
1049:on August 5, 2019
564:Popular Mechanics
535:Los Angeles Times
331:In January 2022,
304:FBI investigation
236:American Airlines
175:
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1390:. Archived from
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468:"Just Plane Fun"
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251:proof of concept
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1541:Flying Magazine
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1394:on May 30, 2016
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1311:. July 28, 2014
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1212:. April 4, 2024
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716:. July 28, 2014
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591:. July 17, 2008
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119:from 2018–2020)
115:(President and
113:Thomas Wieners
112:
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89:, United States
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66:, United States
34:
33:Logo since 2015
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1584:External links
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1516:on May 4, 2014
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1442:. May 14, 2014
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611:"Being ICONic"
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