Icon Aircraft Creates Managed Fractional Program

0

Hoping to attract more owners for its A5 LSA amphib, Icon Aircraft announced a managed fractional ownership program at AirVenture this week. The program is called Icon Fleet Access and the company is launching it at several locations in 2018, including Tampa and Miami, Florida, and in Northern and Southern California. It also said the program—contingent on its success—will be accessible for potential buy-in starting in 2019 in Texas, the Northeast, the Great Lakes region and in other locations in the Northwest and Southeast.

The deal looks like this: For a 1/2 share in a new A5, you pay $225,000 plus a $1500 monthly management fee. Then, it’s $75 per hour (dry) and you can fly the A5 a total of 150 days per year (including 40 weekend or “peak” days). Remote access (using the plane at any of the available locations) is free and additional users include one family member and one non-family member—or two family members. Additional users pay $350 per month. There’s a five-day maximum booking duration (you get four max bookings) and you can book it 12 months out. The term is for three years where you can either renew or sell the share at fair market value.

For a 1/4 share, put $125,000 down and pay $900 per month and $75 per hour. You can fly it a total of 75 days per year, including 20 weekend or peak days. If you want remote access, it’s another $300 per month. The 1/4 share program allows for one family member to fly the aircraft, plus $350 for additional users. You can book the aircraft six months in advance and are allowed two maximum bookings (five days with the aircraft). Like the 1/2 share deal, you can renew or sell at fair market value.

The management fee includes Icon-authorized schedule maintenance, insurance, storage, cleaning and line services. Basically, show up to fly it and then park it when you’re finished with it.

The current fully equipped Limited Edition A5 is priced at $389,000 and Icon says delivery is available in early 2019. At AirVenture 2018, the company was including a $38,500 amphib trailer for free with a $5000 deposit and commitment to sign a purchase agreement by Aug. 31, 2018, for a Q1 2019 delivery.

Icon’s CEO Kirk Hawkins told AVweb in an interview at AirVenture that the assembly line for the A5 at the Vacaville, California, headquarters is active and the company is currently seeking flight instructors and service partners. Visit www.iconaircraft.com.

LEAVE A REPLY