FutureFlight
Airlines Place Biggest eVTOL Orders To Date As Vertical Goes Public
Vertical Aerospace is merging with special purpose acquisition company Broadstone, boosted by pre-orders for up to 1,000 of its VA-X4 eVTOL aircraft from American, Virgin and Avolon.
Vertical Aerospace VA-X4
Airlines including American and Virgin Atlantic plan to operate Vertical's four-passenger eVTOL aircraft in scheduled services. (Image: Vertical Aerospace)

American Airlines, Virgin Atlantic, and leasing group Avolon have committed to buying up to 1,000 of Vertical Aerospace’s VA-X4 eVTOL aircraft. The deals announced late on June 10 are potentially worth up to $4 billion for the UK-based manufacturer and represent the largest sales agreements placed so far in the emerging advanced air mobility sector.

At the same time, Vertical announced plans for an initial public offering on the New York Stock Exchange through a merger with special purpose acquisition company Broadstone Acquisition Corp. The transaction, which is expected to close in the second half of 2021, could value the company at between $1.8 billion and $2.2 billion based on a $10 share price for the public investment in private equity (PIPE), generating gross proceeds of $394 million.