Icon Aircraft Purchase Agreement

Perhaps there is a greater level of comfort with such a language than I imagine. Perhaps many consumers will see this only as an expensive version of the multi-page agreement of a mobile operator that we all accept, but none of us actually read. However, in the case of the ICON A5 sales contract, many people have read it. And what we`ve seen is worrying at a variety of levels that will affect the life of the property on the buyer. It is quite clear that ICON owners are looking for a way to avoid liability by proactively selling their aircraft. There appears to have been some kind of negative reaction from potential buyers to these conditions and, once again, according to reports, the company will decrease to verify the terms of these agreements. The last chapter is clearly not written. The agreement provides for a number of requirements that appear to be painful and unfavourable to consumers. While some may be seen as ICON`s attempts to intelligently limit its liability, others appear to aim to control the behavior of its customers in a way that has nothing to do with safety or liability. This is the Lowlights.

I`m curious to see how the sales contract with ICON customers will go. The company said that if any potential buyer wants, they will give them a full refund of the initial down payment. All payments progress, but ICON will retain 20 percent, which seems inconsistent. Finally, why should a customer be allowed to withdraw once the agreement is announced, when the other client, more invested, should pay a high fee? It doesn`t make sense to me. Their problems with the agreement would carry the same weight, regardless of the amount they have already deposited. In May 2016, the company announced that only 20 aircraft will be completed in 2016 instead of the 175 planned so far and that they will all go to training centers. Customer deliveries were postponed until 2017 at the earliest as the manufacturing processes for the aircraft`s design needed to be improved. The company also announced that it would lay off 60 people and terminate 90 contractors due to problems with the acquisition of production, which would leave 160 employees at work. CEO Kirk Hawkins said the company had the investors to continue operating during this period, before production was increased and the company could become profitable.

[41] [46] In May, the company announced that it had completed production of 7 aircraft and another 11 were partially completed. [46] On July 27, 2014, the first A5 production was presented at the EAA AirVenture Oshkosh.