On May 8, 2003, approximately 1330 Pacific daylight time, a Beechcraft F-35, N5030B, ditched in the waters near Anacortes, Washington, after experiencing a complete loss of engine power in cruise flight. The private pilot, who was the sole occupant, was not injured, but the aircraft, which is owned and operated by the pilot, sank to the bottom of the bay. The local 14 CFR Part 91 personal pleasure flight, which departed Skagit Regional Airport, about 10 minuets earlier, was being operated in visual meteorological conditions. No flight plan had been filed. There was no report of an ELT activation.

According to the pilot, whose plan it was to fly around the local area for about 45 minutes, he meant to switch to an auxiliary fuel tank in order to maintain a specific amount of fuel in each main tank. But while moving the fuel tank selector lever, he inadvertently turned the fuel selector to the OFF position. Soon thereafter the engine quit, and the pilot moved the selector back to the left main tank. He then expected the windmilling engine to start running again, but because he forgot to activate the fuel wobble-pump, the engine did not restart. Because he was over water, he donned a floatation vest and flew the aircraft to a power-off landing on the water's surface. After ditching, the pilot exited the aircraft, and was soon thereafter picked up by a National Oceanic and Atmospheric Administration (NOAA) fishing ship. According to the pilot, there did not seem to be any problems with the aircraft's fuel system or engine.