A British company developing an electric Vertical Take Off and Landing air taxi, Vertical Aerospace, has announced orders from airlines for up to 1,000 aircraft valued at $4 billion.
The airlines include Virgin Atlantic and American Airlines, who are among a number of high profile investors which also include Microsoft, Rolls-Royce and Honeywell.
The Vertical Aerospace air taxi is the VA-X4 which is expected to enter into commercial service in 2024 once certified by EASA. It has two sets of four rotors to provide vertical lift and forward propulsion.
Bristol-based Vertical Aerospace is working with Rolls-Royce on the electric propulsion system for the VA-X4 which is claimed to travel at over 200mph, be near silent, produce zero emissions and have a low cost per passenger per mile.
Virgin Atlantic has an option to purchase between 50 and 150 of the VA-X4, while American Airlines’ pre-order is 250 aircraft. Airline leasing company Avolon has ordered 310 with an option for a further 190.
In the UK, Virgin Atlantic and Vertical expect to work together to explore the joint venture launch of a Virgin Atlantic branded short haul eVTOL network, including operations and infrastructure development.
All this was revealed at the same time as Vertical Aerospace announced a merger with Special Purpose Acquisition Company (SPAC) Broadstone Acquisition Corp. The transaction will result in Vertical becoming a publicly-traded company, with a value of approximately $2.2 billion. Vertical will be listed on the New York Stock Exchange in the second half of 2021, under the ticker EVTL.
Stephen Fitzpatrick, Vertical CEO and Founder, said, “This is the most exciting time in aviation for almost a century. Electrification will transform flying in the 21st century in the same way the jet engine did 70 years ago.
“[This] announcement brings together some of the largest and most respected technology and aeronautical businesses in the world and together we can achieve our aim of making the VA-X4 the first zero carbon aircraft that most people will fly on.
“The United Kingdom is already a global leader in aerospace innovation and we believe Vertical Aerospace will be the British engineering champion to drive the aviation industry forward.”
