A view of Vertical Aerospace’s eVTOL aircraft.
Source: Vertical Spaceflight
Vertical Aerospace, a manufacturer of electric vertical take-off and landing aircraft (eVTOL), backed by investors
like American Airlines, will go public through a merger with a blank check company in a $2.2 billion deal, the company said Thursday.
Vertical Aerospace said it has conditional pre-orders for up to $4 billion and 1,000 eVTOL aircraft, from aircraft rental companies Avolon and American Airlines, and a pre-order option from Virgin Atlantic.
“If you think about transportation strategically, this is the next big frontier,” said Domhnal Slattery, CEO of Avolon, the world’s third largest aircraft leasing company.
Vertical Aerospace said it has also raised funds from other companies, including Honeywell and Rolls-Royce.
Vertical will be listed on the New York Stock Exchange under the ticker ‘EVTL’, following a deal with Broadstone Acquisition Corp. The deal is expected to close in the second half of 2021.