“American’s investment demonstrates its focus on emerging technologies to reduce carbon emissions and on investing in innovative ways that could improve the customer journey.”
Sidley represented American Airlines in its investment in Vertical Aerospace, a leading UK-headquartered engineering and aeronautical business developing electric vertical takeoff and landing aircraft. American has agreed to pre-order, subject to certain future agreed upon milestones and other terms, up to 250 aircraft, representing a potential pre-order commitment of US$1 billion, and an option to order an additional 100 aircraft. The airline also expects to make a US$25 million investment in Vertical through a private investment in public equity transaction. Vertical is developing the VA-X4, a zero-carbon aircraft that can carry four passengers and a pilot, and fly at speeds up to 200 mph over a range of 100 plus miles. These aircraft could potentially transport customers quickly around urban city centers and to airports. Vertical plans to conduct its first test flight of the VA-X4 later this year, with certification of the aircraft as early as 2024.
The Sidley team included Bart Biggers, Atman Shukla, Jon Daly, Rob Carlson, Oliver Currall, Scott Heyman, John Schaff, Daniel Ray, Riley Fedechko, and John Stribling.
Additional information is available in the press release.