American to invest $1B in UK-based eVTOL startup

Thursday, 10. June 2021 22:42

American Airlines Inc. announced on Thursday that it intends to invest approximately $1 billion in Vertical Aerospace, a company based in the United Kingdom that develops electric vertical takeoff and landing (eVTOL) aircraft.

The American company explained that it pre-ordered up to 250 aircraft from the British startup, adding that the deal "is subject to certain future agreed-upon milestones."

"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," American Airlines CFO Derek Kerr commented.

Related Links: American Airlines Group Inc.
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Breaking the News / BU