Finance, Taxes, Insurance
Volocopter Enters New Phase of Insolvency To Save eVTOL Aircraft
Almost all employees have been placed on paid gardening leave under German legal protection
Volocopter VoloCity eVTOL aircraft
Volocopter’s VoloCity eVTOL aircraft would carry a pilot and one passenger on flights of up to around 20 nautical miles. © Volocopter

German eVTOL aircraft developer Volocopter this week moved into a new phase of insolvency proceedings, giving a court-appointed administrator another three months to secure its future. On March 1, almost all of the company’s 500 staff were placed on paid gardening leave to comply with the requirements of Germany’s insolvency laws.

Since December 26, when Volocopter first filed for insolvency with a court in Karlsruhe, the company has been in a pre-insolvency program that expired on February 28. Court-appointed attorney Tobias Wahl has been seeking fresh investment to support efforts to certify its two-seat VoloCity eVTOL model. According to a source close to the process, he is in discussions with prospective new owners.

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