Sumary of American Airlines takes Vertical Aerospace stake:
- American Airlines will invest in Vertical Aerospace, a leading UK-headquartered engineering and aeronautical business developing electric vertical take-off and landing (eVTOL) aircraft..
- As part of its investment in Vertical, American has agreed to pre-order, subject to certain future agreed upon milestones and other terms, up to 250 aircraft, representing a potential pre-order commitment of $1 billion, and an option to order an additional 100 aircraft..
- The airline also expects to make a $25 million investment in Vertical through a private investment in public equity (PIPE) transaction..
- Vertical is developing the VA-X4, a zero-carbon aircraft that can carry four passengers and a pilot, and fly at speeds up to 200 mph over a range of over 100 miles..
- “Emerging technologies are critical in the race to reduce carbon emissions and we are excited to partner with Vertical to develop the next generation of electric aircraft,”.
- Vertical plans to conduct its first test flight of the VA-X4 later this year, with certification of the aircraft as early as 2024….