Bristol-based Vertical Aerospace, which is developing a world-beating electric-powered ‘flying taxi’ that could revolutionise air travel, has landed a $2bn order for up to 500 of the aircraft.
The order, from international aircraft leasing company Avolon, will speed up development of the world’s most advanced electric vertical take-off and landing (eVTOL) aircraft, potentially putting it into service by the end of the decade. 
Avolon said the deal would help create a new ultra-short-haul aircraft category to commercial aviation, calling it a “game-changing development that will revolutionise air travel with zero emissions aircraft”.
St Philips-based Vertical’s VA-X4 aircraft, pictured, will have tilting propellers enabling it to take off and land like a helicopter but fly like a conventional plane.
It will have a range of more than 100 miles and capacity for four passengers and a pilot, travel as speeds of over 200mph and be near silent when in flight, said Vertical.
It will have zero emissions and a low cost per passenger mile while also 100 times quieter and safer than a helicopter.
According to Vertical, the aircraft will “open up urban air mobility to a whole new range of passengers and transform how we travel”. Its vertical take-off will enable it to operate in and out of cities and other confined locations.
Avolon will join Microsoft, Rolls-Royce, Honeywell and American Airlines as equity investors in Vertical, which is also working with Virgin Atlantic as a VA-X4 launch airline customer in Europe.
Vertical Aerospace was launched in 2016 by Stephen Fitzpatrick, the multi-millionaire founder and chief executive of Bristol-headquartered energy supplier OVO, with a mission is to make air travel personal, on demand and carbon free. 
Its team, recruited from some of the world’s leading businesses such as Airbus, Rolls-Royce and Jaguar, has already certified and supported 30-plus aircraft and propulsion systems.
Mr Fitzpatrick, pictured, said: “We are delighted to announce this aircraft order with Avolon, one of the leading aircraft lessors in the world.
“Avolon’s proven management team and strong track record of starting, and scaling, a global leading business made this an attractive opportunity and represents a critical milestone for us.
“This agreement, with an established aviation company like Avolon, will allow us to plug into their global commercial network of airlines, reaching key decision makers in a fast and efficient manner.”
Avolon, which is headquartered in Ireland with offices in the US, Dubai, Singapore, Hong Kong and Shanghai, provides aircraft leasing and lease management services.
Avolon CEO Dómhnal Slattery added: “Avolon is proud to be a launch customer for the VA-X4 aircraft, demonstrating our commitment to a net zero carbon economy and to driving innovation in the global aviation sector.
“Our order with Vertical will also accelerate the inevitable commercial roll-out of zero emissions aircraft. Before the end of this decade, we expect zero emission urban air mobility, enabled by eVTOLs, to play an increasingly important role in the global commercial aviation market.”
He said the order with Vertical reaffirmed Avolon’s position as an industry pioneer.
“With Vertical, we will revolutionise air travel and continue to reduce the impact of our industry on the environment.
“In Vertical, we have identified a long-term strategic operator that shares our vision for a cleaner and more efficient mode of air transport. As we emerge from the Covid-19 pandemic, air travel will be materially reshaped with airlines needing to embrace emerging technologies that decarbonise air travel. We strongly believe that the VA-X4 will lead this transformation.
“Our global scale and deep industry relationships, combined with Vertical’s technological leadership makes this a winning alliance. We are excited about the synergies and opportunities that both businesses will bring to the agreement. We believe the global reach of the Avolon platform will accelerate the inevitable adoption of eVTOLs as a new, safe and zero emissions mode of ultra-short-haul air transport.”
