Story ID: 358OSh 
Icon Launches Fractional Share Test Program
By: Matt Thurber
Caption: The amphibious LSA manufacturer is offering a lower-cost pathway for flying the Icon A5.
Word Count: 712
Icon Aircraft, manufacturer of the A5 light sport amphibious airplane, is testing a shared-ownership program that includes full management of the A5s in the program.

Under Icon’s Fleet Access A5 Managed Fractional Program, shareowners get access to a number of days of availability depending on their share size, and Icon manages the entire operation so the owner doesn’t need to worry about any of the headaches of operating a wholly owned aircraft. Another key benefit of the Icon program is that shareowners will be able to fly their shared A5 and other A5s in the program in different locations.

The Fleet Access beta test program is launching at Icon’s two existing flight training bases—Tampa, Florida, and at company headquarters in Vacaville, California—in the fall, as well as at locations in Miami and Los Angeles. Shares are available in 25 or 50 percent increments, and Icon provides “all scheduled maintenance, storage, insurance, scheduling, dispatch, staging, and even pre-positioning, as well as A5 trailer access.”

If all goes well with the beta testing, Icon plans to launch Fleet Access bases in up to six more locations, which could include Texas and the Midwest, Southeast, Northeast, Pacific Northwest, and Great Lakes areas.

“It’s for people who want access to an A5,” said Icon CEO and founder Kirk Hawkins. There are many people who have the money to spend on an adventure sportplane like the A5, but they lack the time to manage ownership on their own. A share with full management included can help meet the needs of these potential buyers, without the headache of owning an entire airplane that they don’t have time to fly very much.

Fleet Access fits into Icon Aircraft’s mission, which is to get more new people flying, Hawkins explained. “Adventure flying in aircraft like the A5 is some of the coolest and most rewarding flying possible,” he said. “There are millions of people who would love to experience this kind of flying in their own airplane if ownership and access were made easier.”

A 25 percent share in an A5 will sell for $95,000 for early buyers. After the beta test, the quarter-share price will rise to $125,000, with a monthly management fee of $900 and 75 days' per year access to the airplane. The half-share price will be $225,000 plus $1,500 per month and 150 days access. The fees cover maintenance, storage, scheduling, and insurance. The owner will also pay $75 per hour when flying the A5.

Potential buyers can express their interest in an A5 share by putting down $1,000 on deposit (fully refundable). Current A5 position holders, according to Icon, “get preferred access to both the beta and the follow-on program and can move their deposits over seamlessly.”

The A5 retails for $389,000 fully loaded, or $269,000 for the base model, which doesn’t include many options such as retractable landing gear, folding wings, passenger flight controls, upgraded avionics, cabin heater, and other features. This week during EAA AirVenture, buyers can get a free A5 amphibious trailer at no additional cost—a $38,500 value.

Icon has currently built more than 50 A5s, according to Hawkins, all the fully loaded model: base models aren’t yet available.

The post-beta testing price of $125,000 for a quarter share doesn’t mean the price of a whole A5 is $500,000 but reflects Icon’s costs for setting up and running the management program, according to Hawkins. The $95,000 introductory price is “to prime the pump” for Fleet Access sales, he said. Buyers of a quarter share can invite one family member to join for $350 per month, and remote access to other program A5s costs an additional $300 per month. Half-shares include free remote access and one family membership for $350 per month, or for the same amount, two family members or one family member and one non-family member. Term period for shares is three years, and owners can either sell or renew.

The all-composite A5 is powered by a 100-hp Rotax 912iS and can carry two people more than 400 nm. Useful load ranges from 430 to 550 pounds, and maximum speed is 95 knots. Water takeoff distance is 1,470 feet, and landing distance in the water is 2,140 feet.