ICON Aircraft has successfully completed the sale of its assets to SG Investment America. Almost all assets have been transferred to the new company, which will continue to operate under the name ICON Aircraft.
The manufacturer filed for Chapter 11 bankruptcy earlier this year, declaring debts of $170 million. In June, legal documents showed that SG Investment bought ICON for $15.79 million.
“It has been an incredible honor to lead ICON Aircraft and work with the smartest and most passionate group of people I have ever had the pleasure of knowing,” said outgoing CEO Jerry Meyer in an Aug. 2 press release. “I want to express my deepest gratitude to each team member for their dedication and hard work. I wish them and the company nothing but success in this exciting new chapter.”
Jason Huang, the company’s new president, will lead ICON through the transition and said he is optimistic about the company’s growth and opportunities.
ICON says the company is committed to maintaining its reputation for producing high-quality aircraft and providing service to its A5 owners. The manufacturer says service and flight training operations will continue in Tampa, Florida and Vacaville, California, as well as at 60 additional service and training partners throughout the United States.
