“Seals the Deal”??? LOL. More press release slight of hand tricks, and journalists taking the bait. Please AvWeb friends who I love and respect, I’ll send you folks any gift basket you want if you promise not to keep posting these as real news (just name it - wine, cookies, fruit, swiss choc, halal/kosher cheese; just send me the address I’ll FedEx it over, I swear!)
Just because a press release claims a Major Milestone doesn’t make it real. Read the actual July 15 text from vendor: AA “placed a conditional pre-order”. Meaningless!
The industry uses one and only term for a “real” aircraft order, so if the presser does not use the words “Firm Order” it is NOT an order, and is just another PR trick. “Firm Orders” are the one and only accepted way of accounting for customer purchase commitments and the only measure that anyone in the industry or investors takes seriously. These are NOT firm orders.
Even firm orders are far from “firm” since even ones with Boeing / Airbus/ GE / RR/ P&W/ etc. have tight, specific terms that give the buyer dozens of escape hatches if certification, noise, environmental, MX, training, dispatch metrics cannot be objectively met. Even a typical Boeing or Airbus project does not meet many of its promised metrics, which typically results in massive renegotiations for millions of $$ of credits or outright cancellations with refunds.
No dollar amount of this supposed deposit was offered. So I think it is fair to suggest that the “pre-delivery payment” amount was $1 per on what is a very clearly NOT firm order.
Recap: since the the FAA certification whiplash to it’s OIG audit three months ago, eVTOL are going to be (fingers crossed!) certified as Powered Lift. Which has been accomplished a grand total of ZERO times and so anyone trying has a murky certification road ahead of it. [Side Note - All of the powered lift pilots in the world can fit can in my back yard pool, so Dave and Martha King better get to work on a new course soon!!] The previous plan to certify as airplane 14 CFR Pt. 23 that was tossed out this Spring was always bordering on a fairy tale, but it at least had some plausible path to production certification for at least the airframe, but now they are a long long way from a conceivable cert path in N. America.
And unfortunately US 14 CFR doesn’t align at all with EASA’s proposed new eVTOL rules so FAA can’t reciprocally accept European certifications for the airframe, powerplants, avionics, power sources, maintenance, noise standards, training, operations, etc. , even if it ever comes from EASA, unless a corresponding miracle of new legislation comes from Congress to enable FAA to promulgate separate new eVTOL certification regs (yet another multi-year bureaucratic fiasco)
Don’t take my word - glance over the company’s timeline at vertical-aerospace DOT com/about-us and explain me exactly when / how this is going to actually become reality. No, really, where exactly in their calendar in the next two years is the word “Certification” ???
I actually hope somehow they get this going and eventually succeed, but I don’t frame my dreams for aviation’s future as news of an accomplishment to prop up an investment scheme. The chances of them meeting the timeline and performance metrics of this “order” seems small for anyone with a basic understanding of the industry, gov’t regulation, or of gravity. So objectively, the odds of this “sealed deal” becoming reality is about as good as the 103 orders for the Concorde. Which last I checked we’re still waiting on…