The Rolex Air-King ref. 114200 marked a significant step forward for the collection when it arrived in 2007. Retaining the traditional 34mm Oyster format, the new generation brought a more substantial case, a modern machined Oyster bracelet and Rolex's calibre 3130. Most importantly, the 114200 became the first Air-King generation to receive COSC chronometer certification, moving the model firmly into Rolex's contemporary catalogue.

The reference also introduced a much more adventurous approach to Air-King dial design. Alongside conventional black, silver and white options, Rolex produced distinctive concentric and colourful dials, including blue, salmon and green variations, as well as Arabic and Explorer-style configurations. This gave the 114200 a personality that was considerably broader than the restrained Air-Kings that preceded it.

The result was an Air-King that remained compact and understated while incorporating many of the technical and aesthetic developments appearing across Rolex's wider range.

It is an Icon because the 114200 represents the final evolution of the classic 34mm Air-King before Rolex transformed the collection into a larger 40mm sports watch.