Volocopter, a German air transport company, has filed for insolvency following several unsuccessful attempts to raise funds in an increasingly challenging international market. ADVERTISEMENT German urban air mobility (UAM) start-up, Volocopter GmbH, has announced that it has started the process of filing for insolvency, as it has been unable to secure the funds needed to…
Volocopter, whose predecessor E-Volo may have invented the multi-copter concept, has filed for insolvency in Germany but is vowing to continue its certification bid. It intends to gain EASA certification for its VoloCity, and the insolvency will keep creditors at bay while it raises more money to cross that finish line. “We are ahead of…
Light Sport manufacturer Flight Design has filed for insolvency in Germany saying it’s run out of cash because a major customer hasn’t paid its bill. The company announced the move with a notice on its Web site on Dec.14. “The insolvency application became necessary because, on the one hand, an international customer has not yet…
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Breadcrumb Trail Links News Economy Business insolvency filings hit their largest third-quarter volume in 15 years Published Dec 31, 2024 • Last updated 5 minutes ago • 4 minute read You can save this article by registering for free here. Or sign-in if you have an account. A pedestrian walks past a Danier Leather store in…
(Dec 31): Air taxi start-up Volocopter GmbH filed for insolvency proceedings on Monday, citing its inability to raise new funds to maintain regular operations. The Mercedes-Benz and Honeywell-backed company plans to continue business operations during the insolvency proceedings while seeking additional funding. “Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of…
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Budget cost rises could lead to more firms going bust, warn experts The Mirror Read the original article here