http://lists.gnu.org/archive/html/bug-gnu-libiconv/2018-05/msg00004.html

--- libiconv-1.15/lib/Makefile.in
+++ libiconv-1.15/lib/Makefile.in
@@ -100,12 +100,14 @@
 
 # On AIX, libiconv.a must include the object files of /lib/libiconv.a,
 # otherwise the setlocale() call fails when invoked from executables linked
-# with -rpath $(libdir), even if linked without -liconv.
+# with -rpath $(libdir), even if linked without -liconv.  However, since
+# the --with-aix-soname flag libtool may not create libiconv.a at all.
 install : all force
 	if [ ! -d $(DESTDIR)$(libdir) ] ; then $(mkinstalldirs) $(DESTDIR)$(libdir) ; fi
 	$(LIBTOOL_INSTALL) $(INSTALL) libiconv.la $(DESTDIR)$(libdir)/libiconv.la
 	case "@host_os@" in \
 	  aix*) (cd $(DESTDIR)$(libdir) && \
+	         { test -e libiconv.a || exit 0; } && \
 	         objects=`ar t libiconv.a`" "`ar t /lib/libiconv.a` && \
 	         ar x libiconv.a && ar x /lib/libiconv.a && \
 	         ar q libiconv.new.a $$objects && \