At EAA AirVenture Oshkosh 2018, ICON Aircraft launched a beta test for its new managed fractional program for the ICON A5.
Called ICON Fleet Access, the program offers 50% and 25% ownership shares of the amphibious light-sport aircraft.
The program also allows owners to use other shared A5 aircraft in various locations across the U.S. as if they were their own, company officials note.
The program provides all scheduled maintenance, storage, insurance, scheduling, dispatch, staging, pre-positioning, as well as A5 trailer access.
“Adventure flying in aircraft like the A5 is some of the coolest and most rewarding flying possible. There are millions of people who would love to experience this kind of flying in their own plane if ownership and access were made easier,“ said ICON Aircraft CEO and Founder Kirk Hawkins.
The beta version of ICON Fleet Access launches in Tampa, Miami, Los Angeles, and the San Francisco Bay Area in the fall of 2018.
Based on the success of the those locations, up to six additional expansion sites are planned through the end of 2019, company officials said. Locations under consideration include Texas, the Midwest, Southeast, Northeast, Pacific Northwest, and the Great Lakes. Additional locations will be identified by ICON in 2019 and beyond based on market demand.
ICON is offering 25% shares for $95,000 initially for those who sign up early. Post-beta prices are expected to start at $125,000 for a 25% share of an A5 with monthly management fees of $900 to cover maintenance, storage, scheduling, and insurance, plus a $75 hourly rate when the aircraft is flown.
The company is now accepting refundable $1,000 deposits to identify interest and determine expansion locations.
The Icon is a beautiful aircraft, and one that appears to be something to spark interest in young folks. The GA pilot average age is up there, and there is much talk about how to turn around the decline in new pilots. But how many people out there can afford a $95K start-up, $900/month, and $75 a flight hour? And that’s for a quarter of an airplane. Until someone figures out how to make owning a nice modern aircraft more affordable, GA will keep declining. It is all I can do to keep owning my 52 year old Cherokee. This concept is nice, I hope it works out for Icon and their customers.
Seems like Icon is getting desperate?