The financing comes as SkyDrive works to certify its aircraft in time to launch commercial air taxi service for the 2025 World Expo being hosted in Osaka.
The projects will bring together multiple universities and industry partners and provide students with an opportunity to tackle key challenges facing aviation.
Even as the stock markets improved their performance over the past two weeks, Nov. 14-18 and Nov. 21-Nov. 25, the Advanced Air Mobility Stock Composite fell by 10%.
As third-quarter financial results for advanced air mobility’s publicly held companies began rolling out, the primary message is they are on track in spending for research and development.
The Blade Air Mobility technology-powered air-mobility platform posted third-quarter revenues up 125%, to $45.7 million, versus $20.3 million for the year-ago period.
Embraer posted revenue of $271.7 million in its executive aviation division, up 6% from a year ago, and reaffirmed its projection to deliver 100-110 executive jets during 2022.
Listening to analysts parse stock market performance as a follow-on to Nov. 4’s U.S. jobs report, higher unemployment rates equate to improvement—indicating some slack for companies struggling under a shortage of employees or supply chain problems stemming from labor shortages.
Australian electric air taxi startup AMSL Aero is among 12 projects that have been awarded federal government grants under the first round of the Emerging Aviation Technology Partnerships program.