American plans orders for small, electric-powered aircraft

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FORT WORTH, Texas (AP) — American Airlines says it will invest in a company that’s working on a small, electric-powered aircraft that could someday carry people from city centers to airports by taking off and landing vertically like helicopters.

American said Thursday that it plans to invest $25 million in U.K-based Vertical Aerospace, which plans to sell stock to the public later this year.

American values a “pre-order” for up to 250 vertical aircraft at $1 billion.

Vertical Aerospace says it’s developing a four-passenger electric aircraft and hopes to conduct its first test flight later this year.

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