American Airlines Backs Vertical Aerospace Electric Planes: Travel Startup Funding This Week
Photo Credit: An illustration of the air taxis being tested by Vertical Aerospace, a travel startup that American Airlines has backed. Vertical Aerospace
Skift Take
The American Airlines investment in Vertical Aerospace marks the aviation industry's broad support of more than a dozen startups building air taxis. But be skeptical of the hype that small, electric-powered aircraft will be in the skies anytime soon.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
>>Vertical Aerospace, a maker of air taxis, said American Airlines made an undisclosed investment in the startup.
Based in Bristol, England, Vertical Aerospace plans to go public later this year in a possible $2.2 billion merger with a special purpose acquisition company (SPAC).
American will invest $25 million, alongside investments from Avolon, Honeywell, Microsoft, and Rolls-Royce, as Skift reported. It committed this week to buy an unpublicized number of the startup's planned five-seat, electric-powered aircraft. So did Virgin Atlantic.
The startup faces many competitors that are d
