Still No Personal Jetpack: Martin Aircraft Is Defunct | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne Unlimited--08.19.19

Airborne UnManned--08.20.19

Airborne Unlimited--08.21.19

AMA Drone Report--08.22.19

Airborne Unlimited--08.16.19

Airborne-YouTube

Airborne Unlimited--08.19.19

Airborne UnManned--08.20.19

Airborne Unlimited--08.21.19

AMA Drone Report--08.22.19

Airborne Unlimited--08.16.19

Wed, May 29, 2019

Still No Personal Jetpack: Martin Aircraft Is Defunct

Warehouse If For Lease And Phones Are Going Unanswered

A company that has been working towards bringing a personal aircraft that you can strap to your back to market has closed its doors and put its warehouse up for lease.

The Martin Aircraft Company has for years been touting the Martin Jetpack as the next wave of personal aviation. But the Christchurch, New Zealand-base company has burned through more than $50 million in its investor's money, and has finally thrown in the towel, according to Stuff.co.nz.

In 2010, Martin Aircraft Company was rated by Time Magazine as one of the world's top 50 "most anticipated" inventions. But the "jetpack" ... which actually used a pair of ducted fans to provide lift and thrust, has been eclipsed by the large number of personal eVTOL aircraft that are currently under development. Jetpack inventor Glenn Martin, who quit the company that bears his name five years ago, estimates that there are now some 300 companies worldwide developing personal aircraft.

Martin has acted as a consultant to some of those companies, and has encouraged Larry Page to test the Cora electric aircraft in New Zealand.

Currently, Chinese company KuangChi Science holds the controlling interest in Martin Aircraft Company. The firm underwent a restructuring last year, reducing the number of employees to three on a "casual" employment basis. "This restructure necessitated the voluntary surrender of the company's certification with the Civil Aviation Authority," the company said at the time.

Liquidation of the company's assets is expected to be completed by later this year. Repayment of a $10 million loan to KuangChi Science will take precedence over payment to all other creditors.

(Image from file)

FMI: Original report

Advertisement

More News

Spacefest X 2019... You Had To Be There

One Of The Ultimate Events For Unrepentant Space Buffs ... By Wes Oleszewski, ANN Spaceflight Analyst From August 8 through August 11, 2019 space buffs from all over the planet con>[...]

Airborne 08.19.19: Blue Angel Incident, Tecnam P2012, New Orleans Tragedy

Also: VMS Eve Arrives 'Home', Bell 407GXi IFR Cert, Advanced G550 Course, Fake Mechanic Somewhere, there are two US Navy Blue Angel pilots who possess some very LUCKY rabbit's feet>[...]

Airborne 08.19.19: Blue Angel Incident, Tecnam P2012, New Orleans Tragedy

Also: VMS Eve Arrives 'Home', Bell 407GXi IFR Cert, Advanced G550 Course, Fake Mechanic Somewhere, there are two US Navy Blue Angel pilots who possess some very LUCKY rabbit's feet>[...]

AMA Drone Report 08.15.19: Amazon Petition, Mavic-Mini?, Eek! Drone Flamethrower

Also: Drone Shooter, DJI Pocket, DroneResponders, Passenger Drone Test Amazon has petitioned the FAA for a waiver from several current rules governing Unmanned Aerial Vehicles to a>[...]

Airborne-Unmanned 08.13.19: 'HAWK30' Authorized, UKCG Trial, Public Safety Drone

Also: SimActive, Atlas Multi-Drone System, UAS Public Safety Workshop, San Pablo Police Drone Unit HAPSMobile has received a Certificate of Authorization from the FAA to fly &ldquo>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2019 Web Development & Design by Pauli Systems, LC