Icon A5 to Fly at AirVenture—With a Fatter Wallet

Icon Aircraft has announced a fresh round of equity financing for its unique A5 light-sport-capable amphibian. The company plans to have an A5 flying-from land and water-at this month's EAA AirVenture show in Oshkosh. Founded by former fighter pilot and current airline pilot Kirk Hawkins, Icon holds a $40 million sales backlog and is sold out for the first two years of production, according to Hawkins. Deliveries of the two-place A5 are now scheduled to commence in the third quarter of 2011, a delay of some nine months from the original schedule. The A5 features electrically folding wings, though buyers must choose between the folding wings and the retractable wheel landing gear, as incorporating both would exceed the weight limits for the light-sport category. Target selling price for the A5 is $139,000. The latest round of financing is sufficient to complete the flight test program and bring the aircraft to production, according to Icon.