Here’s the backdrop of today’s update on the LSA seaplane sector as summer approaches. According to Law360, an online legal news source, “Light-Sport Aircraft manufacturer Icon Aircraft filed for Chapter 11 protection in Delaware bankruptcy court with more than $170 million in debt and plans for an asset sale and liquidation.” You may have read (here) that Icon got an initial offer of $13.5 million. As an industry contact told me for the earlier report, “That would hardly make a dent in their liabilities.” The person was right, it appears. A proposed new buyer referenced in the earlier article agreed to take on Icon’s debt but the sales must still go through an auction process, I was told. OK, let’s come back to Earth… or water perhaps …or either. Aero Adventure continues to fly as it has for three decades (though management has changed at least three times over the period).
A Seaplane You Can Afford; Aero Adventure Begins a New Chapter for the Aventura Line
Looking to the Global South
Recently editor Marc Cook offered news from Aero Adventure. His article spoke to new leadership but couldn't go into much detail as little was provided. I reached out to Alex Rolinski to fill in some blanks. He was traveling but we spoke a few days later.Alex Rolinski has been the leader of Aero Adventure for more than a decade; photo taken in 2013.
Alex Rolinski (L) partnered with Bristell importer Lou Mancuso when Lou wanted to add a seaplane. Photo taken in spring 2020 right before Covid hit.