Airlines plan to spend billions of dollars on flying taxis

Airlines plan to spend billions of dollars on flying taxis

After UK and Brazilian start-ups have achieved commercial breakthroughs and watched efforts have been announced in Los Angeles, flying taxis are one step closer to becoming a bustling fixture in the skyscapes of cities around the world.

Bristol-based Vertical Aerospace Group said last week that it had won conditional orders for 1,000 electric aircraft, which could amount to $ 4 billion, from buyers such as American Airlines Group and Virgin Atlantic Airlines. T.

Brazil’s Embraer SA has soared its share price, confirming separately that it is in talks to integrate its division of electric vertical take-off and landing aircraft (eVTOL) into a public company.

Meanwhile, in California, startup Archer Aviation Inc. exhibited a future electric aircraft after raising a $ 20 million investment from United Airlines Holdings Inc.

Although not yet licensed for commercial use, European aviation regulators expect to obtain approval for electric flying taxis as early as 2024. People on long trips are under pressure for carbon emissions and the effects of pandemics.

“We believe this is the beginning of the next major evolution of urban air mobility,” said Avolon Holdings Ltd, an aircraft lender investing $ 15 million in vertical aerospace. Said Domhnal Slattery, Chief Executive Officer of. “This is probably as important as in the jet era.”

Flying taxis, like electric helicopters, are designed to accommodate a few passengers. However, they utilize multiple small electric rotors, are quieter, more agile, and have no emissions.

The aircraft is designed to fly short distances of 160 kilometers or less, to carry wealthy commuters over congested urban areas, for example to airports and weekend vacations. Expected to be used. Many eVTOL manufacturers plan to eventually move to pilotless aircraft.

The popularity of special purpose acquisition companies (SPACs) has served as a catalyst for emerging industries.

Vertical Aerospace will be made public through a reverse merger with Broadstone Acquisition Corp., and the combined value of the company’s shares will be approximately $ 2.2 billion.

Archer, based in Palo Alto, California, said it plans to merge with SPAC, which is supervised by investment banker Ken Moelis, in February. Its value is about $ 3.8 billion.

Embraer surged 15% on Thursday after confirming that it was in talks to merge its Eve Urban Air Mobility division with blank-checking firm Zanite Acquisition Corp. and give it a valuation of approximately $ 2 billion.

Two other eVTOL companies, Joby Aviation and Lilium GmbH, have agreed to make it public through the merger of SPAC. Another German startup, Volocopter GmbH, is backed by airport operators such as Atlantia SpA.

Last week, Eve said it had entered into a partnership with Halo Aviation Ltd., a US and UK helicopter travel provider, which will begin delivering 200 aircraft from 2026.

Patrick Key, executive director of the European Union Aviation Safety Agency, said in May that commercial use of eVTOL would begin with carrying luggage and then with passengers.

Unmanned flight will take at least another five years, Ky said, as EASA is working on a coordinated approach with the US Federal Aviation Administration and other international regulators.

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Wealthy Japanese are flying more private, ANA …

Wealthy Japanese are flying more private, ANA …

Wealthy people in Japan are looking to more private jets as they try to avoid crowded airports as the coronavirus pandemic continues.

ANA Holdings’ private jet charter business is expected to generate sales of 1 billion yen in 2022, said Atsushi Katagiri, chief executive officer of ANA Business Jet, last week. ANA Business Jet is jointly owned by ANA and Sojitz Trading Co., Ltd.

According to Katagiri, private charter inquiries are about 20 times a month, up 30% from pre-pandemic levels. “This will be a new transportation option,” he said, refusing to disclose sales for the past few years.

Compared to Europe and the United States, Japan is a small market for private jet operators because of its quicker and more efficient domestic transportation and the relatively small size of the country. However, an increasing number of businessmen want to come to Japan from other countries that are flying privately, or are stuck overseas who want to return to Japan and are unable to secure regular flights due to COVID-19.

According to Nomura Research Institute, the number of wealthy people in Japan in 2019 reached 1.3 million households since 2005, and net financial assets reached 333 trillion yen. Former Prime Minister Shinzo Abe’s ultra-easy monetary policy has raised his rank.

A 13-seat jet plane from Tokyo to New York costs about 39 million yen for a round trip and 30 million yen for departures and arrivals in Los Angeles. Hiring a private plane to and from Beijing, the capital of Japan, saves 15 million yen.

ANA Business Jet does not own the airplane itself, so costs can be reduced. Rather, the group is more agile as it arranges flights in collaboration with about 40 operators around the world.

According to Markets & Markets, the global business jet market is projected to grow from an estimated $ 19 billion in 2020 to $ 38 billion by 2030.

ANA posted a loss of 81 billion yen in the three months to December 31, but sales fell 55% to 236 billion yen. “I’m glad I didn’t own any assets during the coronavirus,” Katagiri said.

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