A UK startup that makes flying taxis is to float on the New York stock exchange as Virgin Atlantic and American Airlines placed orders for as many as 1,000 of its prototype electric aircraft. Vertical Aerospace, which is based in Bristol, said its electric vertical takeoff and landing aircraft (eVTOL) could be in service by 2024, once safety regulators certify it. Virgin Atlantic has options to buy 150, with a view to establishing a branded network in the UK. Vertical Aerospace plans to float after merging with Broadstone, a special purpose acquisition company (Spac), with a value of $2.2bn. Stephen Fitzpatrick, best known as the founder of Ovo Energy, set up Vertical Aerospace in 2016.

Source: The Guardian June 11, 2021 11:56 UTC