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Not seeing Jerry, Andy Jackson, and MOST of the sales people. Scott R seems to be the only surviving sales person. Super pumped we still have Mandy!

I confirmed that Scott and Jake are the two people left in sales. Glad to see Dexter, maybe that means the TPF facility will remain open. I have emailed Jerry Meyer too see when we can expect some communication from newco Icon.

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Not seeing Jerry, Andy Jackson, and MOST of the sales people. Scott R seems to be the only surviving sales person. Super pumped we still have Mandy!

Andy and Chris gone are a big hit in the training and testing, Sean is now solo. Sales force got slashed too, but not all of them so I hope that means production will continue. I’ll miss working with Gary Knight for sure!

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Jerry told me to expect an update from ICON next week.

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Not seeing Jerry, Andy Jackson, and MOST of the sales people. Scott R seems to be the only surviving sales person. Super pumped we still have Mandy!

Noah also seems to have survived from Sales.

This is fascinating list. Only one engineer survived (there were only 3 as of this year), which is a total shame.

Mostly customer service (2), HR (2), Finance (1), Quality, Production, Manufacturing Engineering

Most of the structural engineering was contract (since all quit in the past 3 years) and in looking at BK proceeding those were under contract were lost many tens of thousands $$ in unpaid invoices.

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Any word on the operation in Tiajuana?

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I just heard they laid off most of the Icon staff on Thursday. Anyone hear the same, or deeper knowledge of the status?

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I just heard they laid off most of the Icon staff on Thursday. Anyone hear the same, or deeper knowledge of the status?

Unless they further laid off more employees the list that made it through the "transition" is up several posts. Only 30 remain, many others were laid off to include sales and engineering. Most that remain are in production, service, and quality.

There is only 1 engineer left and he is only an electrical engineer. They laid off a very experience and competent mechanical engineer who was doing a number of things but primarily Material Review Board (he fixed the many problems with parts and component on the production line) The other was a junior aerospace engineer. There were only three engineers left. The rest were contractors and all had sizable unpaid invoice claims. So I doubt they come do more work for them again.

With who is left I have my doubts they can competently maintain a continued operational safety program that is required of ASTM and FAA.

None of this is surprising to me given the the majority shareholders laundered the company from 62% Chinese hands into 100% Chinese hands via the bankruptcy process. Wiped out debt to small American aerospace business suppliers and laid off Americans along the way. Totally inappropriate use of the BK process in my opinion. Don't be surprised if they move the company to China. This was their goal all along. A god damn shame if you ask me and Par for the course on Chinese Investment in American Aerospace.

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Has there been any CH11 update? Is ICON going to exit CH11 or be sold off and dissolved? I thought Jerry said we would have heard something last week. Hmmmm

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Most of ICONS assets were sold to the new entity on 6/24 and 30 employees were retained. The old ICON entity still exists and is winding down operations. Still waiting on an update to owners.

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Yep, agree. What I was wondering was if there has been any word from the new entity if they are ending ICON production and selling off the pieces they acquired (having us join the ranks of Seawind and SeaRey).

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The million dollar question

Yep, agree. What I was wondering was if there has been any word from the new entity if they are ending ICON production and selling off the pieces they acquired (having us join the ranks of Seawind and SeaRey).

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No doubt! We patiently wait…

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When the sale closed last month, ICON told its Mexican manufacturer partner Co-Production International (which I if I understand correctly handled a lot of the operations at the Tijuana manufacturing plant - admin, staffing, logistics etc) that the buyer would not be assuming the manufacturing Services Agreement.

https://www.co-production.net/mexico...s-tijuana.html
https://www.co-production.net/mexico.../icon-aircraft

On June 18, 2024, the Court entered an order approving the sale of substantially all of ICON’s assets to SG Investment America, Inc (the “Purchaser”). That sale closed yesterday, June 26, 2024. In connection with the closing, the Purchaser has informed ICON that it will not be assuming the Manufacturing Services Agreement, dated August 4, 2016 (the “Agreement”), by and between IC Technologies Inc. and Co-Production International, Inc. (“CPI”). Accordingly, ICON intends to reject the Agreement under section 365 of the Bankruptcy Code and anticipates filing the motion to effectuate such rejection in the near term. ICON will not have any need of the employees employed by CPI under the Agreement.

The judge today approved a motion for old ICON to reject its contracts with CPI.

I am not sure what this means for future manufacturing of the A5. Will SG Investment America try to restaff the plant themselves, negotiate a new deal with CPI, or abandon manufacturing in Mexico completely?

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I can only hope they are planning renegotiating contract or moving construction elsewhere. If ICON doesn’t own the carbon manufacturing equipment, then that Mexican company will
probably be making contract with the other vendors who have carbon planes, and then we will definitely have to find something new. Hmmm

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CPI is a shell company ICON used just as Marcus has indicated. They may have terminated the contract as they are re-negotiating with the "new ICON", they maybe trying to take go at it their selves (doubt it), or given the Staff they chose to keep they may be packing it all up to ship to China (they own all the tools and equipment ) and therefore no need for the Shell Company. All possible options.

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Ted posted this in a separate thread, but last week Icon announced that the sale was complete, with Jerry Meyer stepping down and Jason Huang taking the lead again.

ICON Aircraft is pleased to announce the successful completion of its asset sale to SG Investment America. Substantially all assets of ICON Aircraft have been officially transferred, and the new company will continue to operate under the name ICON Aircraft.

Outgoing CEO Jerry Meyer expressed his gratitude for his tenure at ICON Aircraft, stating, “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.”

Jason Huang, who joined the company in 2020 as President, will be leading the company through this transition period. He shared his enthusiasm for the 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.”

ICON Aircraft remains committed to innovation and excellence in the aviation industry. The company looks forward to continuing its legacy of producing high-quality aircraft and providing exceptional service to A5 Owners. Service and Flight Training operations in Tampa, FL and Vacaville, CA will continue as will operations with the more than 60 ICON Service and Training Partners across the U.S.

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What I wonder is what is going to happen with the Tijuana facility. Lots of highly trained and skilled people with so much experience, it would be a shame to lose them. I have seen some post online directed at my social media (since I have Icon in my name) thinking I represent the company. I have to remind them I don’t. Apparently those workers haven’t been paid since mid July, and guarding factory to keep anyone from liquidating machinery. Getting I got and not a good PR move IMO. Hope it is resolved soon.

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This is not surprising given that the court allowed Icon to terminate the contract with CPI (Mexican shell company) who I'm pretty sure does the payroll. The workers in a way sound like they are "booting" or putting a "lien" on the production plant, funny but also I feel bad for them losing your job sucks. This not great news for current owners as a lot of spare parts are likely in Mexico (I heard this is already problem)...

I still maintain that previous 62% majority shareholders from China that just bought the company outright will move the operation to Shanghai in the near term. This is what they have always wanted which is some kind of production operation in China. Based on who they kept (and even brought back) on staff versus who they laid off during the BK transition tells me this is the case. Its just a prediction though, I could be wrong. As a basis of measure, this is basically what happened to Terrafugia when Geely bought them, they got the S-LSA cert, then within weeks laid off nearly 100% of the employees in the US and moved the IP and tools to china.

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FYI it seems old ICON has been renamed to "Seaplane Debtor 1, Inc" based on the latest filings.

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Now that is bizarre! Didn’t quite have a sexy ring to it :-)

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Hey all - "Old" ICON has been renamed Seaplane Debtor 1, just to keep it simple. This company now has no assets and is not operating. The new company that purchased Seaplane's assets is called SG Investment America and it will be doing business as ICON Aircraft. Hope this helps to explain.

Thanks
Jerry

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Thanks Jerry. Any timeline on re-starting production?

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Thanks for clarification!

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Hi Michael - as the update above states, I'm not in the mix anymore as it relates to the operations of the new company. I'm helping to advise during the transition but have mostly been working with the attorneys. I know everyone wants info, but I think the team still needs some time to get their legs underneath them. There have been a lot of changes in a short period of time. I'm sure that ICON will provide an update as soon as they have something concrete to share.

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It seems that (old) Icon has reached a settlement with Kirk Hawkins, pending documentation. I have not been able to find out details on the settlement.

"On September 16, 2024, the Parties held a mediation with the Mediator with respect to the Disputed Issues. The Parties reached agreement of a global resolution of the Disputed Issues, subject to final documentation in all regards (“Definitive Documentation”)."

https://cases.stretto.com/public/x32...0000000024.pdf

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Has anyone heard from new Icon re their future plans? I haven't seen any communication to plane owners to date.

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Crickets. I am assuming that it will be 24 months to get aircraft production back running if Mexico is not leveraged. If Mexico was in their plans, I believe they would have made an effort to keep some part of it running.

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I am frustrated too, that there has been no word on Aircraft production. Makes it difficult when I do demo flights to encourage potential new owners. The new owners may be waiting until after the election to understand what the tariff structure is going to be if they decide to build outside of the US/NAPA. I think it is unfortunate if they walk away from Tijuana since you have a trained and skilled workforce that have all the machinery necessary. They sure seem dedicated and took pride in their work.

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You’re probably right Erich. I guess we’ll have a better idea after the election. As far as the product that came out of Mexico, the quality and workmanship was evident.

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Curious if jumping into ICON ownership is even something that should be considered until all this gets sorted out...