Movim • UK flying taxi firm pins hopes on investors as cash runs short

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UK flying taxi firm pins hopes on investors as cash runs short

news.movim.eu / TheGuardian • 15 November 2024

Vertical’s crash and cash crisis highlight challenge of making flying taxis a reality after nearly a century of efforts

On a dreary November day in the Cotswolds, England, the VX4 – a cross between a plane and a helicopter – rose from an airport runway, hovered a few feet off the ground and set back down.

It might not have reached a heady altitude, but for its British owner, Vertical Aerospace, it was a crucial moment. The company, which has received millions of pounds in UK taxpayer support , is running short of cash.