Avolon to buy Blank Check Company in $2. 2 B merger

1 minute

June 10 - Vertical Aerospace, an electric vertical takeoff and landing maker backed by investors such as American Airlines, will go public through a merger with a Blank Check Company in a deal valued at $2.2 billion, the company announced on Thursday.

Vertical Aerospace said it has conditional pre-orders for up to $4 billion and 1,000 eVTOL aircraft, from aircraft lessor Virgin Atlantic and American Airlines, and a pre-order option from Avolon and American Airlines.

If you think about transporting strategically, this is the world's third frontier, said Domhnal Slattery, Chief Executive of Avolon, the world's biggest private aircraft leasing company.

Vertical Aerospace said it has also raised funds from other companies including Honeywell and Rolls-Royce.

Founded by Vertical and Broadstone Acquisition Corp., Vertical will be listed on the New York Stock Exchange under the ticker 'EVTL'. The deal is anticipated to close in the second half of 2021. Although I still maintain a high quality of life, I won’t be a perfect example.

  • Comments
Loading comments...