Anshuman Tripathy
2 min read
(Corrects attribution to comment in paragraph 6 to David Stepanek, chief transformation officer, not CEO Chris Bradshaw)
By Anshuman Tripathy
(Reuters) -British electric-aircraft developer Vertical Aerospace said on Thursday it has expanded its partnership with helicopter ride operator Bristow Group as it aims to bring air taxi services into commercial operation.
U.S.-listed shares of Vertical were up 2.6% in premarket trade and Bristow was up 3%.
Texas-based Bristow Group - which offers short-distance helicopter rides in several countries, including the UK and the U.S. - has also ordered up to 50 of Vertical's VX4 aircraft, with the option to purchase 50 more.
Air taxi startups are heavily investing to secure approvals and commercialize electric vertical takeoff and landing (eVTOL) aircraft, to meet the growing demand for faster, more sustainable urban transportation amid a stringent regulatory environment.
The deal provides Vertical's customers a scalable eVTOL platform, without the need to build operational infrastructure from scratch, the companies said.
"We think...that eVTOL aircraft will be a 60% to 70% reduction in direct operating cost," David Stepanek, chief transformation officer of Bristow Group, told Reuters in an interview.
The partnership also includes access to certified aircraft, trained pilots, maintenance and insurance via Bristow, with both companies managing aircraft operations for Vertical's customers.
"This strategic partnership ... mirrors what already successfully works in aviation today," said Vertical Aerospace CEO Stuart Simpson, adding that it will lower barriers to market entry and accelerate eVTOL service adoption worldwide.
Last month, Vertical said it deepened ties with Honeywell to take key air taxi systems to certification and was developing a long-range hybrid-electric variant of its VX4 in an attempt to widen market reach.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Leroy Leo and Vijay Kishore)
