Volocopter
- Problems finding fresh funds
- Company’s CEO optimistic
- Aircraft vital to giga-project
Volocopter, the German air taxi developer backed by Saudi Arabia’s Neom giga-project, has filed for insolvency, blaming difficulties in securing fresh funding.
The company, whose high-profile backers include Mercedes-Benz, Honeywell, Daimler, Intel and Mitsui Sumitomo Insurance Group, said its operations would continue during the insolvency proceedings as it seeks new investors.
The insolvency raises concerns about Neom’s ambitious plans for urban air…
