Icon unveils revised purchase agreement

Icon created a firestorm in March when it attempted to impose a sales contract widely regarded as onerous, one-sided, and burdensome on buyers.

The new version contains some elements of the original, such as company-authorized flight training and maintenance, flight data recorders, and an agreement not to sue Icon unless the NTSB finds the company at fault for accidents. But the new agreement eliminates restrictions such as a 30-year airframe life limit, mandatory cockpit audio/video recorders, transfer fees, and buyback provisions.

“We’ve listened carefully to the feedback and have revised the purchase agreement,” Icon Founder Kirk Hawkins said in a cover letter. “We should have done a better job sharing our philosophy and soliciting your feedback in advance. We’ll own it and have tried to remedy it with the revised version.”

Icon said it has collected 1,800 deposits on its A5 amphibious light sport aircraft. The two-seat, $250,000 airplane has received rave reviews from the aviation media for its modern design, sporty feel, and stall-resistant wing. But Icon has fallen far behind its production timeline and delayed customer deliveries until 2017.