Eviation Lays Off Most of Staff and Pauses Operations
A seemingly promising electric aircraft start-up, Eviation, has been overcome by financial struggles and is pausing operations indefinitely. In its 10 years of business, the company managed to develop and fly a zero-emissions airplane. Just days before news of Eviation’s breakdown came out, electric air taxi developer Lilium revealed that it may be moving into insolvency… again.
$200 Million Insolvency Lifeline Remains Unfulfilled
Lilium, a once-promising air taxi developer, is again teetering on the edge of insolvency as it waits for a $200 million Christmas Eve rescue deal to come through. Meanwhile, employees remain unpaid, operations are on hold, and management is now openly considering filing for insolvency.
Nation’s Aviation Authority Aims for Project Completion by 2026
The United Arab Emirates, known for its skyscrapers, artificial islands, and indoor ski slopes, is now turning its attention to the sky by mapping out air corridors for flying taxis and drones. The nation’s General Civil Aviation Authority (GCAA) hopes to complete the project within 20 months.
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