Thu, Aug 08, 2024
SG Investment America Acquires Assets, Future Looks Murky
ICON Aircraft has successfully completed the sale of essentially all its assets to investment banking group SG Investment America (which apparently/ultimately is derived from Chinese ownership), who will continue to operate the company (for now) under the name ICON Aircraft.
Jason Huang will lead the company through the transition after joining ICON as President in 2020. Huang expressed enthusiasm for the company’s future, saying, “I am thrilled to be guiding ICON Aircraft into its next phase of growth and development. Our focus will be on ensuring a smooth transition and capitalizing on new opportunities that will drive the company forward. The future holds great promise for ICON, and I am excited to see what we can achieve together.”
Jerry Meyer, outgoing CEO, claimed to be grateful for his service at ICON and wished the company well as he handed over the reins, saying, “It has been an incredible honor to lead ICON Aircraft and work with the brightest and most passionate group of people I’ve ever had the pleasure of knowing. I want to extend my deepest appreciation to every team member for their dedication and hard work. I wish them and the company nothing but success in this exciting new chapter.”
ICON Aircraft's future seems fairly uncertain... and while the new owners claim to be interested in operating the firm, as is, there is great concern that the whole program will eventually be absorbed into China and be diminished. In the meantime; they claim that flight training and service operations will continue at its Tampa, Florida, and Vacaville, California service centers.
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