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The airline American Airlines announced its plan to invest in the future of urban air mobility with air taxi electric.
It is not the first airline to seek new investment segments around air transport, just like you did United Airlines long ago, American goes for the air taxi of the future.
As part of its ongoing commitment to the environmental sustainability, American Airlines announced that it will invest in Vertical Aerospace, a leading engineering and aeronautical company headquartered in the United Kingdom developing vertical take-off and landing electric aircraft (eVTOL). with investment, American is demonstrating its focus on emerging technologies to reduce carbon emissions and investing in innovative ways that could improve the customer journey.
As part of your investment in Vertical, American agreed to pre-order, subject to certain agreed future milestones and other terms, up to 250 planes, representing a potential pre-order commitment of $ 1 billion, and an option to request an additional order of 100 planes.
The airline also expects to make an investment of $25 million in Vertical through a private investment transaction in public capital (PIPE). Vertical is developing the VA-X4, a carbon-neutral plane that can carry four passengers and a pilot, and fly at speeds up to 200 mph in a range of more than 100 miles.
These planes could potentially transport customers quickly between urban city centers and airports.. Vertical plans to conduct its first test flight of the VA-X4 later this year., with the certification of the aircraft from 2024.
American's partnership with Vertical is the latest in the airline's commitment to sustainability. The airline's recent efforts include:
- investment of $24 billion since 2013 on 595 more fuel-efficient aircraft as part of the largest fleet renewal effort in aviation industry history.
- During the same period, American retired a similar number of less fuel-efficient planes, including the withdrawal of more than 150 older and less fuel efficient aircraft in 2020.
- Committed to buy 9 million gallons of sustainable aviation fuel over three years from Neste, a leading producer of renewable products.
- Involved American clients in driving demand for sustainable aviation fuel through agreements with Deloitte and Kuehne + Nagel.
- Invested in new technology to help our aircraft operate more efficiently.
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