VX4 Flying Taxi Completes First Test Flight. American Airlines Has 250 on Preorder [CNET News]
Vertical Aerospace Ltd. (EVTL)
Company Research
Source: CNET News
The VX4 Flying Taxi, capable of carrying four passengers up to 100 miles at over 200 mph, completed its first full-scale, piloted test flight Monday, according to a press release from parent company Vertical Aerospace That's good news for American Airlines, as the company last year agreed to and employ them to shuttle passengers to and from airports by 2025. American made a $25 million investment in Vertical Aerospace. Last month, United Airlines similarly made a $10 million predelivery payment with Archer Aviation for 100 electric flying taxis. Vertical Aerospace conducted the 10-minute flight test inside a hangar, but longer flights at higher altitudes are scheduled to take place before the aircraft is released for commercial use. No word yet as to which airports may see the new aircraft or what a flight may cost you. Vertical Aerospace and American Airlines didn't immediately respond to a request for comment.
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News
- Vertical Aerospace Announces Release of Shareholder Letter and Filing of Annual Report on Form 20-F [Yahoo! Finance]Yahoo! Finance
- Vertical Aerospace Announces Release of Shareholder Letter and Filing of Annual Report on Form 20-FBusiness Wire
- Why The Inventor Of The Predator Drone's Electric Aircraft Startup Is Stumbling [Forbes]Forbes
- Air-Taxi Plan for Paris at Risk of Missing Olympics Deadline [BNN Bloomberg (Canada)]BNN Bloomberg
- Vertical Enters Into Investment Agreement With Founder and CEO, Stephen Fitzpatrick Committing to Provide up to $50 Million of FundingBusiness Wire
EVTL
Sec Filings
- 3/20/24 - Form 6-K
- 3/14/24 - Form 20-F
- 3/13/24 - Form 6-K
- EVTL's page on the SEC website