Volocopter Enters Insolvency – AVweb

Bankruptcy

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…

Flight Design In Insolvency – AVweb

Bankruptcy

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…

German air taxi start-up Volocopter files for insolvency

Bankruptcy

(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…