American Airlines Plans $25 Million Investment In Vertical Aerospace Written 11 June 2021
Vertical Aerospace VA-X4. | Credit: Delta Charlie Aviation; YouTube; framegrab
The Wall Street Journal reports that American Airlines is planning a $25 million investment in UK-based electric aircraft startup Vertical Aerospace Group Ltd., and intends to acquire 250 of Vertical’s flying taxis contingent on the aircraft receiving regulatory approval and achieving other milestones. Reuters reports that the conditional agreement struck by American Airlines to buy 250 of Vertical Aerospace’s aircraft includes “an option to order an additional 100 aircraft,” and represents a “potential commitment of $1 billion.”
Full Story (Wall Street Journal); More Info (Reuters)