American Airlines to pre-pay for 50 air taxis from Vertical Aerospace

American Airways flight 718, the primary U.S. Boeing 737 MAX business flight since regulators lifted a 20-month grounding in November, lands at LaGuardia airport in New York, U.S. December 29, 2020. REUTERS/Eduardo Munoz

July 15 (Reuters) – Air taxi maker Vertical Aerospace (M00.F) mentioned on Friday that American Airways Group Inc (AAL.O) has agreed to make pre-delivery funds for 50 electrical vertical takeoff and touchdown (eVTOL) plane, lifting its shares as a lot as 71%.

Final 12 months, American Airways had agreed to pre-order as much as 250 of UK-based Vertical’s eVTOL plane in a $1 billion deal, with an choice to purchase a 100 extra. learn extra

Vertical’s VA-X4 plane can carry 4 passengers and a pilot. It might fly at speeds of greater than 200 mph over a spread of above 100 miles.

The deal displays rising curiosity in battery-powered plane that may take off and land vertically, providing a brand new method for vacationers to beat visitors and hop between cities. learn extra

Vertical Aerospace had final 12 months reported pre-orders for as much as 1,350 plane value $5 billion from clients together with American Airways and Virgin Atlantic. learn extra

U.S.-listed shares of Vertical had been final up 52% at $4.43 in afternoon commerce.

Reporting by Kannaki Deka in Bengaluru; Modifying by Devika Syamnath

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