German air taxi manufacturer Volocopter on Monday said it had filed for bankruptcy at the Karlsruhe District Court, days after one of its close competitors was saved from collapse.
However, the company said it was still seeking investors and planned to press ahead with its plan to enter the commercial air taxi market.
Why is Volocopter in trouble?
Volocopter, based near Stuttgart, still needs type certification from the European Union Aviation Safety Agency (EASA) for the market launch of its two-seater Volocity product line.
Although it has applied for insolvency proceedings, the company said it was proceeding on the assumption that an investor would be found in the new year.
In the meantime, it said the bankruptcy petition was…
