- Vertical Aerospace: eVOTL aircraft to be certified by the end of 2024
- Merger with New York-listed company due for completion by the end of 2021
- Flights from Heathrow to Canary Wharf will take 15 minutes
LONDON, October 13 (Businesshala) – Tired of traffic jams? Imagine a world where your taxi takes to the skies and lands on top of your office building, recharges and sets off anew.
That’s the vision of Stephen Fitzpatrick, founder and CEO of Britain’s Vertical Aerospace, which is set to raise $394 million in a merger with the New York-listed company, and who says its plane will fly by mid-2020.
And he’s not alone. Some of the world’s most high-profile engineers and airlines agree with their plan of a vertical zero-emission mini-aircraft to almost silently carry four passengers 120 miles (193 kilometers) across the skies.
American Airlines (AAL.O), aircraft lessors Avalon, engineers Honeywell and Rolls-Royce (RR.L), as well as Microsoft (MSFT.O) are investing in the M12 unit merger, which is expected to be completed by the end of . Year.
Fitzpatrick, who founded Britain’s No. 3 energy retailer, OVO Energy, said vertical flights between London’s Heathrow Airport and its Canary Ferries financial district would take 15 minutes and cost £50 ($68) per passenger.
That capability is catching the attention of airlines. More than 1,000 VA-X4 aircraft have been pre-ordered by customers. The interest in zero-emission aircraft comes at a time when airlines are under pressure from investors to help decarbonize the sector and boost their environmental, social and governance scores.
“We’re going to sign deals. We’re finding the appetite and demand for airlines to be really strong,” Fitzpatrick told Businesshala.
The biggest challenge for Vertical is to certify its aircraft, which Fitzpatrick said is funded by new money from the merger until the end of 2024.
Fitzpatrick first got the idea in 2015 when he sat for hours in 10 lanes of gridlocked traffic in So Paulo, Brazil.
That said, at the time, there weren’t many competitors, but today analysts estimate there are more than 100 companies working on rival electric vertical take-off and landing (EVOTL) aircraft.
The VA-X4 is still under construction and will begin test flights early next year. Fitzpatrick believes the vertical’s partnership will help it emerge as the winner.
Using battery technology from the car industry, and tried and tested electric propulsion units and motors, and backed by Honeywell’s electronics, Fitzpatrick has “no doubt” that the VA-X4 will fly.
Certification will depend on the European Union Aviation Safety Agency (EASA).
“The process to certify the aircraft is known. The technologies are new, but the steps we need to go through are similar to those on other aircraft,” said Fitzpatrick, who recruited senior engineers from both Airbus and Rolls-Royce.
Developing a new mode of transportation comes with other challenges like infrastructure, but Fitzpatrick is convinced.
“We are already in discussion with, for example, Heathrow Airport,” he said from his office window, pointing to potential Skyport locations on the rooftops.
As far as convincing passengers, that’s where airlines come from.
“I think brand associations with trusted airlines are really going to help travelers embrace new technology,” he said.
($1 = 0.7339 pounds)