UK flying taxi maker Vertical Aerospace Ltd (NYSE:EVTL) said American Airlines Group (NASDAQ:AAL) has committed to pre-delivery payments for its first 50 Vertical Aerospace VX4 electric vertical-takeoff-and-landing (eVTOL) aircraft.
The Bristol-based company said the US airline has also reserved delivery slots for the first 50 VX4 aircraft of an initial pre-order of up to 250 aircraft, with an option for up to 100 more.
It is believed to be the first time a major airline has committed to pre-delivery payments and confirmed slot reservations, according to Vertical, and marks a significant milestone in American and Vertical's partnership, which saw the airline invest in the UK company as part of its 2021 initial public offer.
Together, the two companies are also planning to "explore the future of advanced air mobility" in the US and potential markets for eVTOL operations.
The UK-based maker of eVTOL aircraft this year linked up with Italian giant Leonardo to collaborate on its fuselage development for the zero-emission VXR, which can fly four passengers and a pilot over 100 miles.
An additional 50 conditional pre-orders of the VX4 have also been placed by Flyinggroup, a European and Middle East business jet operator.
Flyinggroup currently manages 45 conventional planes from aircraft bases.