Short story:
"Buy an aircraft manufacturer with a certified product and also selling in the Light-Sport Aircraft class for, what? …£100 million? Try again and aim low: just over £12m ($15.3 million)," wrote Flyer staff.
The UK magazine reported that was the winning bid for the assets of Icon but continue reading.
"£134m ($170m) worth of debt was written off during the bankruptcy case for Icon Aircraft when it came before Judge Craig Goldblatt in Delaware last week," wrote Flyer.
Earlier, a Chinese buyer was going to absorb the prior debt while paying slightly less for the company. The supposed Chinese buyer never explained how they would earn such a large amount to cover that debt service.
"The 
Dürkopp Adler Group describes itself as "a global innovation and technology leader in the field of industrial sewing. We develop, produce and sell high-quality sewing machines and equipment."
ByDanJohnson.com readers will 
Flyer reported the opposition
“They alleged that the majority shareholder, Shanghai Pudong Science and Technology Investment Co. Ltd., which has been the controlling equity holder of Icon since 2017, seized control of the management, operated the company as its own property, and systematically dismantled it to expropriate Icon’s intellectual property to China.
"In other words," Flyer summarized, "Icon has been bought for a song from its main shareholder, writing off its debts in the process and ending up with the intellectual property of the aircraft producer. The Delaware court is due to approve – or not – the deal this week."
Law360 (paywall)
Icon Aircraft, creator of the A5 LSA seaplane, is in the spotlight again as bankruptcy proceedings finally come to a close. Short story: Icon will continue making aircraft, after the bankruptcy heard from a new buyer — not the buyer mentioned before in this recent article. The court sought a change in ownership and an effort to grapple with a large amount of debt. From beginning (in April 2024) to an end in mid-June, this proceeding moved very swiftly. Here’s the final settlement. “Icon In a Flat Spin as Bankruptcy Looms” Earlier in the day on June 18th, 2024… Britain’s Flyer magazine reported online that Icon found a buyer but not the one mentioned in the prior link. “Buy an aircraft manufacturer with a certified product and also selling in the Light-Sport Aircraft class for, what? …£100 million? Try again and aim low: just over £12m ($15.3 million),” wrote Flyer staff.
How much investment has this California company attracted? Numbers I've been quoted vary enormously but all estimates run into many millions of dollars. If these guesses are even close to accurate, Icon has generated more investment funding than nearly any LSA producer. Only one outstrips them. That was a reported $200 million sale of Pipistrel to Textron, owner of Cessna and other aviation brands. I hope the aerospace conglomerate got all they hoped for because that is a super-premium valuation for any LSA company, even one as tech-savvy as Pipistrel.
Icon has performed reasonably well in recent years (
Yicai reported on May 22, 2024 that "shares of stock in Shang Gong Group soared to the exchange-imposed limit after the Chinese sewing machine maker and logistics service provider said that it will invest $13.5 million to buy insolvent US light airplane maker Icon Aircraft and take on its debt."
Yicai reported, "Shang Gong set up a subsidiary in the US as a stalking horse bidder to negotiate an asset purchase agreement with Icon Aircraft." The Shanghai-based stock company said that funds would be used "to acquire selected assets from the Vacaville, California-based company and its three affiliated firms." The "affiliated" firms were not identified and the news source did not respond to an email inquiry.
"As the assets will be sold by auction, Shang Gong will bid against any other competitors and the actual transaction cost may be higher than the current offer price," Yicai continued.
This picture gets more convoluted.
"Icon Aircraft, whose main production base is in Mexico and which employs 313 people, is owned by a shareholder of Shang Gong called Shanghai Puke Feiren," Yicai reported. The shareholder is an investment company with a diverse portfolio.
The market for recreational aircraft like Icon A5 is very small in China. The country leans toward practical solutions like transportation rather than leisure flying, although any opening of the lower-altitude airspace might quickly change that situation.
"Since the end of last year, the Chinese government has incorporated low-altitude economy into its policies, so now almost any company wants to have something to do with aviation," Tai explained.
In our exchange, Tai and I agreed that the idea of eVTOLs may be technically achievable now, at least to some range of operation, but public acceptance of this aircraft development may still take years.
Meanwhile… Icon and its sleek A5 will continue in operation, the company has assured. Other sources I consulted were dubious about the $13.5 million investment being enough to rescue Icon, given the weight of servicing all prior investments. Only in time will we know for sure.
Americans who own an A5 aircraft are in no jeopardy, Icon assures. Sales and service will continue.
LSA seaplanes constitute a highly fluid market yet we can see clues suggesting what might be ahead for some of the main brands. With summertime approaching, this State-of-the-Sector article attempts to keep up with the rapidly changing landscape (or waterscape).
We'll first look at two high-end entries that have been in the news and conclude with present LSA seaplanes and their status in the market.
Russ continued, "Founder Paul Vickers said the company is now raising capital to fund the push to begin deliveries on its backlog."
Vickers added, "The plane has finished its flight testing and shook out with a 120-knot cruise and useful load of 750 pounds with a Rotax 916 iS pushing it along."
Paul said the company is planning to manufacture Wave in the U.S. "Most current investors are Americans," Paul noted. A U.S. customer will receive the first Wave.
Wave has had a long development cycle but their timing with Mosaic approaching next year looks prescient.
Icon announced more promising news
However, Searey won 
According to a party I know to be reliable, new buyers are ready and have proposed to reacquire the onetime American company. Even original designer Kerry Ritcher is said to be part of the group interested in taking over from the Chinese. While plans remain uncertain, an American group could quickly breathe life back into a moribund brand. In recent years, the company's appearance at airshows was modest and unenthusiastic. Over the last year, no one has answered the phones. Now the factory is shuttered.
Under lock without access, Progressive Aerodyne is reportedly packed into containers in their former factory, while the rent continues unpaid. It looks dire, but a moderately-well-funded investor group could get up and running fairly quickly, it was imagined. The parts business alone has sustained the company and offers a route back to normal operation; reviving that would be a relief to current Searey owners. Action will depend on current ownership making a decision; when that may happen is not known.
Yet combined with the original talent that created this popular LSA seaplane, new investors could quickly brighten those cloudy skies.
The lightest-of-SLSA-seaplanes 
"The company owes several million dollars to creditors and customers," a reliable source told me. "Employees have voiced concerns and some are taking action." Seamax leaders have reportedly managed to keep their core team using "informal payments."
"In North America, the Brazilian company allegedly has more than a dozen orders to fulfill, to customers that have made substantial deposits." The prognosis for those deliveries is unknown, though the company reportedly delivered one aircraft to America recently using unorthodox channels.
While “buyer beware” is always good advice, one thing I've learned from decades of reporting on this particular sector of aviation: Never write off a worthy design as dead and gone. I've seen many popular aircraft such as Seamax return after internal reforms or under new leadership..
Let's do this up front: the price of a ready-to-ship kit is $59,900. It's available today.
"Due to enhancements in our production capabilities," Aero Adventure stated in a recent mailing, "we produced an additional kit beyond our standard production last month (April, 2024), which is now available for purchase!"
Compare a low price and immediate delivery to any of the aircraft above. It seems like an earlier time when people could actually afford stuff and dealers had products in-stock, ready to deliver. Of course, you'll have to add an engine, avionics, and you might want to doll up the interior but the base price is righteous.
For not much more than $100,000 you could be airborne in a brand-new, well-proven seaplane from a stable manufacturer that is growing their enterprise. Given almost everything you buy has doubled in price during the 2020s, Aventura seems a genuine bargain in 2024.
If you believe it's worth a closer look, 
I have often written about many seaworthy aircraft and invite you to 
OK, Mosaic is still around 15 months away (based on FAA's often-repeated statement). But good companies plan ahead for changes they can foresee. Icon is moving to increase capabilities on their A5 LSA seaplane… plus, the company is responding to customers who gave feedback to the California aircraft manufacturer.
As A5's Rotax 912iS burns less than five gallons of fuel per hour, the company said, "This equates to an additional two hours of endurance or the ability to carry more baggage or heavier passengers."
“The 4-blade propeller is a huge upgrade to my Icon A5,” said Santiago Masdeau, an A5 owner based in South Florida. “I’ve flown more than 100 hours with the original 3-blade and now I have around 20 hours on the new carbon fiber 4-blade. Immediately, I noticed less vibration and noise, better acceleration, and improved takeoff distances. I’ve also experienced an increase on my cruise speed at 5,000 rpm and lower fuel burn. The entire experience is better, and it looks amazing, too!”
A 2024 A5 Limited Edition starts at $409,000 with the 
Icon's announcement of these improvements to the 2024 Icon A5 LSA comes on the heels of the FAA granting a Type Certificate for the A5 in Primary category. The company believes that type certification will allow Icon to expand its market potential around the world, especially in countries that have not yet adopted ASTM standards. The type certified version of the 2024 Icon A5 starts at $434,000.
A5 is built at the company’s 300,000 square foot facility in Tijuana, Mexico, an area the company said has become known for composite manufacturing for aerospace, automotive, powersports, and other high-tech industries. Icon’s facility, which employs more than 250 technicians and engineers, produces between four to five airplanes each month with space to scale.
"Vickers has commenced our flight testing program with Wave, wth the aircraft performing and handling as expected," announced company namesake and designer Paul Vickers. "The test pilot reported the hull is amazing and the Wave lands beautifully."
You see a long probe on the nose of the Wave. Paul said, "This allows us to easily adjust the center of gravity (CG) range and achieve the forwardmost CG." Such weight and balance changes are customary when doing flight envelope evaluations. As the video demonstrates, the pilot is growing quite comfortable with Wave.
"We are 13 years into the development of the Wave," noted Paul. "Our manufacturing facilities are complete, and initial deliveries are scheduled. We are releasing a few early delivery positions at each milestone and offering some great benefits to our early adopters."
Vickers Aircraft believes "Wave offers a unique combination of innovative features, performance, and safety." Interested parties are encouraged to 
Wayne and Kerry Richter started the company and created several designs including the flagship Searey. The Ritchers operated Progressive Aerodyne for two decades before selling to Adam Yang in 2011. Six years later, Adam sold a majority interest to Chinese investors and new management was installed.
News is sparse, as is common in such situations, but at last report Kerry indicated he was working the problem. Two days ago, Kerry posted on Facebook about his visit to China. One can hope he makes some headway for this popular design that has served more than 600 deeply-loyal customers to date.
Searey is definitely a benchmark design in the space with the longest history and the largest fleet.
With regret, I was forced to remove advertisements for both companies despite each supporting this website for many years. Not only were bills unpaid but repeated requests for communication, using multiple means of contact, all went unheeded. Until the lack of response is solved interested parties should be cautious and inquire carefully.
I'm an optimist and hope both brands settle their issues and return to market. I've flown Searey and Seamax and loved them both for their best qualities. I hope for better news to report.
My series will touch on the top 50 most-watched videos on Videoman Dave's 
Here’s the #1 video in our list, followed by the #3, a Video Pilot Report on the Icon’s A5. With more than a million and a half views between them, clearly the LSA seaplane demonstrates strong appeal.
https://youtu.be/fuTaXIB4pbI
https://youtu.be/ONzOx6tEay4
How about if the aircraft was essentially free? And what if you could choose between two highly-desirable models? What if the only cost to get your "lottery" ticket was to subscribe to a popular magazine?
Gee, fellow flying fans — I'd say that sounded like the bargain of 2023. It's the most lucrative giveaway that has been unveiled in the LSA space since it began almost 20 years ago.
A couple years ago, the magazine — long headquartered in New York — relocated to Chattanooga, Tennessee. A new organization took it over under the banner of Flying Media. After this major move, Flying first went to quarterly while it boosted its presence online. After a year getting the electronic side running at full speed, Flying Media returned the print magazine to monthly even while keeping its thick, premium look and feel. The pages are smartly designed and full of great images and content.
LSA enthusiasts may be particularly interested to hear the top man in the organization is an LSA pilot and enthusiast. The leading magazine will keep a focus on jets and other high-end aircraft, but they have a fond view of lighter aviation and have plans to expand such coverage. They say you'll hear more about this at Sun 'n Fun.
How does that deal sound? You buy a subscription for $40 — which you should get anyway — and you are automatically entered in the prize drawing for an aircraft worth $200,000 or more. If you give a friend a gift subscription, you get an additional entry, and you can give up to 10 gifts. Somebody is going to win and the odds are fantastically better than any state lottery. You won't be competing against millions of others. In my mind, winning a free airplane sounds like a great way to start a new year! Even if you don't win, you'll get a beautiful aviation magazine each month.
Flying magazine prize organizers said the winner can choose between the two aircraft. "Tecnam Astore is a great two-seat LSA featuring a Rotax 914 turbocharge engine, leather interior, and an all-glass cockpit." I have 
This year our favorite recreational flying area of the Lakeland show is sponsored by two leading names in aviation. Flying magazine is a sponsor of Paradise as is Junkers Aircraft.
You know the magazine but Junkers, though the brand may sound familiar, seems to recall an earlier time. Indeed, the storied German name has been around nearly a century, since the early days of aviation. Now… they're back and they are coming to America!
Welcome to Junkers and their American importer and partner, 
Getting the sophisticated aircraft into production took several years longer than anyone expected. The initial price of $139,000 ballooned 250% over a few years to more than $350,000. The company prepared a purchase contract that was so burdensome that many orders cancelled. It was later greatly scaled back.
As it continually raised money, Icon eventually became owned more by Chinese interests than all other investors. Seeing the continual flow of red ink on the books, the new owners forced changes and dismissed founder and president, Kirk Hawkins, who had led the organization through impressive — though expensive — achievements. For many months after Hawkins' departure, it was not clear who was in charge and that is never a good thing for a company… or its customers.
The company's original engineers had been convinced by Kirk to leave Scaled Composites, the celebrated Burt Rutan development company that built SpaceShipOne among many other radical designs. One by one, those engineers left. Other executive staff also departed, perhaps uncertain about the path forward. A final-attempt lawsuit that made the Wall Street Journal business pages was resolved in the stockholder's favor. Kirk was out.
Challenges
Contrary to common language, LSA are not "certified." Instead a manufacturer declares they meet ASTM standards and FAA "accepts" that declaration. Frequently at first, FAA audited producers in a point-by-point check of their declaration plus verifying that producers use generally-accepted best practices in their manufacturing. Companies with prior approvals may not be required to undergo an audit; it's always FAA's choice.
I've been involved with ASTM for many years and I can attest to these standards being very rigorous. They were welcomed by many countries where they are in active use. Indeed, FAA is using ASTM standards for LSA as a model for a future approval system for Part 23 general aviation aircraft. Nonetheless, a Standard Certificate is required for some countries; LSA have a Special Certificate. So, some companies believe it is in their best interest to obtain the higher level of approval.
“We couldn’t be happier to see this important step for the F2 program, which ultimately will lead to the F4 four-seat version and the all-electric F2e,” said Matthias Betsch, Head of Flight Design's Design Organization department that created the F-Series and many of its advanced concepts.
"The F2-CS23 is the next step in Flight Design’s ‘Vision Zero’ concept which incorporates all commercially available safety features appropriate for this type of aircraft," the company elaborated. "These features include: a passive stall and spin resistant airframe design; airframe emergency parachute system; Amsafe-brand airbags and inertial reel harnesses; Garmin ESP (electronic stability and envelope protection); a strong occupant-protective enclosure for the pilot and passengers; automatic fuel management; simplified controls such as a combined throttle and brake lever; and a more modern, car-like atmosphere and operation."
“EASA's CS-23 category is an internationally-recognized certification standard which will allow the new F2-CS23 to be easily accepted in all markets worldwide,” said Dieter Koehler, Project Manager the F2 and F4 projects.
Flight Design sees the F2-CS23 as "an excellent choice for flight schools with its wide and easy-to-enter cockpit, fuel efficiency, unique safety features, and state-of-the-art avionics suite. All new Flight Design aircraft come with carbon compensation up to TBO under Flight Design’s Pro-Climate plan." F2-CS23 follows the company's F2-LSA that began deliveries earlier in 2021.
"In countries that do not have a Light-Sport category (Canada and others), the Type Certified version of the 
Primary Category certification also has benefits in the U.S., Icon reported. One is that any A&P is authorized to work on it. Because it is not a SLSA, owners will not need to use designated Icon Service Partners, though the company will still encourage them to do so.
Another benefit is international travel, for example, flying your Icon A5 to islands in the Caribbean, or to keep your A5 on a yacht when you are in another country (image). "Light-Sport Aircraft do not receive a Type Certificate," Icon explained, "so typically, special permission is required before you can fly in another country just like if you are flying an Experimental aircraft." Some exceptions exist, notably in the Bahamas, which does allow U.S.-registered LSAs. The Bahamas is further unique among other countries in that they accept FAA's Sport Pilot certificate.
"Note that we will continue to make the SLSA version, as well," assured Huang. This continues the chance for American pilots to fly A5 without the need for an aviation medical, using only their driver's license in lieu of a medical approval.
Why not pursue approval using the coming regulation often referred to as Mosaic?
"Mosaic is an FAA initiative that doesn’t translate globally," stated the company. "Thus, pursuing Primary Category Certification is the action we needed to coincide with our global expansion plans."
Have you noticed how much LSA seaplanes pop up on this website and all over the web and print world? I admit to fascination with the developments these versatile aircraft are bringing to market but my attitude is shared by many others.
For example, I enjoyed reading 
As time passed, Icon has steadily raised the price of A5. What started as an affordable seaplane with innovative features has progressed to be an aircraft that even founder Kirk Hawkins agrees can only be bought by rather wealthy owners.
That same scenario can be used for 
No, this isn't a partnership program where you have to find several other partners and then administrate the cooperation. That's a fine idea but it has never become popular as it takes some level of bureaucracy. Icon eliminates that effort by managing the program itself.
So, what will this cost?
A 25% share — probably enough for most pilots I know — will cost $95,000 if you sign up early enough. Add to that a $900 "monthly management fee" that will cover storage, scheduling, and insurance, plus a $75 hourly fee. For many readers, this may still be too much but for some this could be a good option. If t works for you, contact Icon at this 
Can your interest be turned into a money-making proposition? Yes, it can.
You can be an Icon Advocate.
Enroll in their program and refer someone who buys — you could make $10,000. Refer someone who wants to offer A5 flight training, become a Service Provider, or join as a Sales Advocate and you can earn $15,000.
Do this a few times — no limit is imposed on the program — and you might earn enough for your own airplane, though admittedly you'll have to do this many times to afford your own A5.
While I could wish an A5 hadn't reached such top-of-the-category pricing
Tomorrow's forecast:
According to the 
The big summer celebration of flight has ended. I have more info from AirVenture 2015 and next I plan a summary article. A preview includes the most positive prognosis from industry players I have seen in recent years; strong sales reported by several producers; several interesting developments or benchmarks; and a wonderful week of weather as icing on the cake. My video partner and I put in long days to secure perhaps 30 or more new videos including many on the freshest topics in light aviation. Stay tuned for more and 
The gleaming example in the nearby photos was built by Steve Cole from Indianapolis over a three year and eight month period, from plans. It meets all the Part 103 parameters — empty weight of 254 pounds; 5 gallons of fuel; 55-knot (63 mph) cruise; 24-knot stall — yet can climb enthusiastically at 1,000 fpm using its half-VW 45-horsepower engine from Scott Casler. The four stroke powerplant burns only 1.7 gallons an hour.
For those a bit less ambitious or skilled than Steve, kits are also available — see next — and all models boast truly affordable prices. You may not be able to make yours look like Scott's UltraCruiser, but certainly here is a line of airplanes for those on tighter budgets, and isn't she a pretty thing that still requires no pilot license, no medical, no N-numbers, and a very simple set of rules that fit on a single sheet of paper.
UltraCruiser is a Part 103 legal all-metal ultralight, although the company notes that the trigear version will be too heavy to qualify as a 103 as is a model with a full canopy.
"UltraCruiser is an easy to build and even easier to fly aircraft," stated Hummel Aviation. The design can be built straight from plans up to, and including a full kit. The kit includes predrilled laser cut components. All parts are formed or welded for you. Wheels, tires, brakes, harness, and even the seat cushion is included. The kit is very complete. Everything is included to complete the aircraft less the engine, prop, spinner, and instruments.
"The complete set of plans contains 26 large drawings with all bulkheads, wing ribs and skins [depicted in actual, full] size. A 30-page step by step manual is very complete. Only simple shop tools are required," said company owner Terry Hallett.
As AirVenture 2015 drew to a close, Friday was the day I got to fly the A5 from 
Two of us flew A5 in 12 gusting 22 mph wind conditions and lake water with one to one and a half foot swells. As CEO Kirk Hawkins put it on my return, "not all light seaplanes could handle that." A5 did very well in those rowdier circumstances. I certainly did not fly the plane in smooth summer breezes and a gently rippled water surface.
On whole, I found A5 very docile to fly. We did the Icon spectacle of pitching into a stall, holding the stick full aft (literally pulled all the way rearward) and moving the stick briskly from left to right without any upset of the airplane. Even when power was moved to idle thrust and we repeated the maneuver with 30 degrees of flaps, A5 merely set up about a 900 fpm descent rate. Taking that to the water with zero corrective action would result in a very firm but survivable landing, I believe. Given all A5s sold in the USA will also have an airframe parachute, safety has been carefully approached.
Like most seaplanes, speed is not paramount in A5 with cruise from 85-95 knots (100-110 mph) according a top Icon test pilot. Banking sharply and gracefully is easy in A5. We did 60+ degree banks only a few hundred feet off the water in complete confidence. She feels very solid and Icon's intuitive Angle of Attack indicator — the best execution I've seen — is a good guide to the limits when executing such steep turns. We commonly cruised around at 70 knots with 4500 rpm from the 