Icon Aircraft in financial trouble

[Reynard]

Big debt and looking for a buyer

Icon Aircraft files for bankruptcy, seeks buyer - AOPA.pdf

[danny_galaga]

Is that the plane some famous baseball player crashed?

[Thruster88]

26 minutes ago, danny_galaga said:

Is that the plane some famous baseball player crashed?

Yes, it is an over priced car that anyone can fly. The high price may be the cause of the company's difficulties.  

[Area-51]

Not holding any breathes... off to graveyard of great big ideas

[Thruster88]

A loss of $831,000 per aircraft produced. Dont think that is sustainable.  

[danny_galaga]

3 hours ago, Thruster88 said:

A loss of $831,000 per aircraft produced. Dont think that is sustainable.  

That business model works with games consoles because you make your money selling software. Suspect it doesn't work so well in this scenario 😄

[Marty_d]

Hold on, $400k plus for a Rotax 912 powered amphibian and they're making a loss of $830k per aircraft?  How does that work?

[Blueadventures]

22 minutes ago, Marty_d said:

Hold on, $400k plus for a Rotax 912 powered amphibian and they're making a loss of $830k per aircraft?  How does that work?

Creative accounting🙃

[Area-51]

2 hours ago, Marty_d said:

Hold on, $400k plus for a Rotax 912 powered amphibian and they're making a loss of $830k per aircraft?  How does that work?

How to make a small fortune in aviation... start with a huge fortune my son 🧐

[danny_galaga]

2 hours ago, Marty_d said:

Hold on, $400k plus for a Rotax 912 powered amphibian and they're making a loss of $830k per aircraft?  How does that work?

Simple, it costs them $1230000 to make.

[Marty_d]

8 hours ago, danny_galaga said:

Simple, it costs them $1230000 to make.

I can do the math, but the bit about HOW it costs 1.23m to build is beyond me.

[danny_galaga]

2 hours ago, Marty_d said:

I can do the math, but the bit about HOW it costs 1.23m to build is beyond me.

Maybe they've adopted the automotive (or Boeing 😄) model- send it out with design faults, and then endlessly keep paying to modify/fix the problems 😂

[pmccarthy]

I saw the prototype in 2014. It seemed like vapourware but they actually made it work. A shame it isn’t viable.

[Area-51]

Production cost for each aircraft on accounting ledger is probably $1234567 🤷🏼‍♂️

[marshallarts]

The only surprise to me is that they have lasted this long.  Beats me how they make ANY sales at the prices I've seen.

[danny_galaga]

I note that the latest issue of Australian Sport Pilot has an article entitled "Flying the Icon A5" 😄

[red750]

 

 

https://fb.watch/rBAP47Vn9O/

[FlyingVizsla]

On 20/04/2024 at 11:39 PM, danny_galaga said:

I note that the latest issue of Australian Sport Pilot has an article entitled "Flying the Icon A5" 😄

After wasting 8 pages on it and a trip to Florida USA, the final word is "The A5 ... not currently registerable in Australia" 

[Blueadventures]

5 minutes ago, FlyingVizsla said:

After wasting 8 pages on it and a trip to Florida USA, the final word is "The A5 ... not currently registerable in Australia" 

It is just one of the fillers of pages from previously published sources. Lucky it’s kinder free. Part of membership. 

[danny_galaga]

There is also an article about a flying estate. You know, where you have your house backed onto an airfield.both those articles smelt of paid advertising, but normally a reputable magazine would say that. Sure enough, the website for the estate is down. I wonder if the magazine mostly gets paid advertising from people about to go broke 🤔

[Area-51]

58 minutes ago, danny_galaga said:

There is also an article about a flying estate. You know, where you have your house backed onto an airfield.both those articles smelt of paid advertising, but normally a reputable magazine would say that. Sure enough, the website for the estate is down. I wonder if the magazine mostly gets paid advertising from people about to go broke 🤔

Most of these industry specific publications are paid stories.... purchase advertising, receive editorial story; buy bigger advertising, get bigger editorial... pay enough advertising, get back cover, inside back cover, or inside front cover placement.... generally paid for 12-6 months in advance under contract... Go to a newsagent, open any magazine, same MO for all periodical publications. 🤷🏾‍♂️

[danny_galaga]

6 hours ago, Area-51 said:

Most of these industry specific publications are paid stories.... purchase advertising, receive editorial story; buy bigger advertising, get bigger editorial... pay enough advertising, get back cover, inside back cover, or inside front cover placement.... generally paid for 12-6 months in advance under contract... Go to a newsagent, open any magazine, same MO for all periodical publications. 🤷🏾‍♂️

Sure, but normally (and I assumed legally) it will say 'paid advertisement ' at the top or bottom of the page 

[Rotorwork]

The first Icon A5 in Australia is apparently set for imminent delivery 

Owner is asking for shareholders. Nothing comes up in rego search for VH-ICN

I have a ramp to the river and a shed designed to fit a B206 and an A5, looks like the A5 space will be empty for the current future. 
 

https://www.planesales.com.au/details/Listing/Amphibian-and-Floatplanes/10206/2023-Icon-A5-Certified-Edition-Shared-Ownership?utm_source=ListingID-10206&utm_medium=banner&utm_campaign=2023 Icon A5 Certified Edition Shared Ownership

Edited April 27 by Rotorwork
More information

[Area-51]

8 hours ago, danny_galaga said:

Sure, but normally (and I assumed legally) it will say 'paid advertisement ' at the top or bottom of the page 

If the content and copy writing is provided wholly by vendor it will say "paid...."; if copy writing is provided by journalist commissioned by publication then it will not. The publication runs a "story" on the product with the word count proportionally reflecting the advert size and position. If the advert itself is a vendor provided story then "paid..." must be displayed and border added... if you flick through a news paper and see a story with a border around it then its been paid for placement and charged out as advertising, "intentionally politicised propaganda".

[danny_galaga]

1 hour ago, Area-51 said:

If the content and copy writing is provided wholly by vendor it will say "paid...."; if copy writing is provided by journalist commissioned by publication then it will not. The publication runs a "story" on the product with the word count proportionally reflecting the advert size and position. If the advert itself is a vendor provided story then "paid..." must be displayed and border added... if you flick through a news paper and see a story with a border around it then its been paid for placement and charged out as advertising, "intentionally politicised propaganda".

Fully understand all that. If I read 'The Economist' for instance there is no doubt. What I'm saying is it looks suspiciously LIKE paid advertising. Especially the estate story. It reads like it was lifted straight out of their sales brochure. I feel there are some grey areas being exploited.