ICON Aircraft Initiates Restructuring Process and Files for Chapter 11 Protection

ICON Aircraft, known for its revolutionary ICON A5 amphibious sport plane, declared that it has entered a strategic restructuring process through a Chapter 11 protection filing. Committed to sustaining its customer support and operations, the company plans to sell its business in accordance with Section 363 of the Bankruptcy Code.

The firm's management underscores a sustained dedication to fulfilling its mission of innovating personal aviation, ensuring support for aircraft owners and employees during this transitional period. CEO Jerry Meyer stated the company's aim to continue aircraft production and sales, alongside delivering superior service and support, asserting that the restructuring would allow them to overcome challenges and emerge stronger.

ICON Aircraft has promised transparency in its communications with all stakeholders throughout the restructuring, striving for minimal operational disturbances. By seeking Bankruptcy Court approval for an expedited sale process and obtaining debtor in possession financing, the company anticipates maintaining its operational flux and honoring commitments to customers and employees. Additionally, information regarding the Chapter 11 case can be accessed through specific channels provided by ICON Aircraft.