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Mon, May 20, 2019

Icon Layoffs Reported/Confirmed

Less Than Promised Production Numbers and Other Factors Spell More Trouble For Icon

Amid recent reports of yet another sinking of an Icon A5 airframe, a heretofore unsuccessful attempt to raise more capital, and a GAMA publication showing that Icon’s promised production targets are not being met, along comes news that yet another layoff has come to the company.

An Icon A5 was sunk in Washington state last week after it appeared, according to witnesses, yto have suffered a hard landing... not the first time such has been reported. The airframe was seen to have sunk to wing level and required winching out of the water to recover the airframe for repair.

Long rumored attempts to raise additional capital appear to be highly unproductive and promises of completing as many as 12-20 airframes per month have definitely not been reached as GAMA noted that the First Quarter production total for Icon tallied only 14 aircraft... approximately 4 2/3 birds per month.

Additionally; following reports of layoffs seen in social media by former icon staffers, a company spokesman stated that there were, indeed layoffs, but described them as, “ICON eliminated less than 20 positions this week as part of an organizational realignment. Our current employee count remains at nearly 700 people spread throughout North America.” The 700 employee count has been scoffed by a number of industry observers and is the first time that Icon has claimed such numbers.

Regardless; things seem to be going less than swimmingly for the company. Icon is not, at this time, an exhibitor at AirVenture 2019 and has been notably absent from other high-profile events... leaving many in the industry to question the long-term viability of this troubled company.

FMI: www.iconaircraft.com

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