Vertical Aerospace cheers demand for its eVTOL air taxi craft

Vertical Aerospace, a UK developer of aircraft for future air taxi and other urban air mobility uses, is reporting even stronger than expected demand for its electric vertical takeoff and landing (eVTOL) vehicles, with a major leasing client circling back for additional orders.

Vertical Aerospace announced Tuesday that aircraft leasing giant Avolon has already found clients for the 500 eVTOL VX4s planes it bought last June and is signing up for an additional 50 to keep pace with demand. That news came in the wake of Vertical Aerospace’s successful $300 million New York Stock Exchange flotation in December, and earlier activity including an exploratory partnership with Heathrow Airport to study air taxi services between the platform and central London.

Avolon, the world’s second-largest lessor of air vehicles, signed a deal to buy a whopping 500 VX4 eVTOL aircraft from Vertical Aerospace in June worth $2 billion. Within nine months of that deal, the…