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CAE and Volocopter will Collaborate to Create the Golbal Air Taxi Pilot Workforce of the Future

CAE | July 09, 2021

CAE, a global leader in aviation training, and Volocopter, a pioneer in urban air mobility (UAM), announced today the signing of a strategic partnership to develop, certify, and deploy an innovative pilot training program for electric vertical takeoff and landing (eVTOL) operations, subject to final agreement. This eVTOL pilot training program, a first in the industry, will develop the pilot workforce of the future and ensure the safe introduction of eVTOL operations globally by leveraging CAE's advanced technologies such as Artificial Intelligence (AI), Virtual Reality (VR), Mixed Reality (MR), data analytics, and Volocopter's leading understanding of requirements for integration into the UAM ecos.

UAM is a new segment of the aviation industry that focuses on aerial connectivity in and around cities. The VoloCity, VoloConnect, and VoloDrone families of electric aircraft are intended to alleviate today's heavily fossil-fueled inner-city traffic for both people (VoloCity, VoloConnect) and cargo (VoloDrone). The VoloCity, the company's first commercial eVTOL aircraft, is well into its certification procedure with the European Union Aviation Safety Agency (EASA) and is on track to begin service in time for the 2024 Olympics Paris. Volocopter intends to offer its services in a number of locations across the world over the next five years due to existing agreements and collaborations with global giants such as Daimler, Aéroports de Paris, Microsoft Azure, and now CAE. Volocopter is dedicated to achieving the highest global safety standards for its aircraft and operations.

CAE intends to spend up to US$40 million in extending its global training network to satisfy Volocopter's anticipated pilot demand in the early years of operation. CAE will deploy training equipment and instructors in tandem with Volocopter's expansion. As part of the deal, Volocopter will acquire a simulator from CAE for use in the certification of its pilot training program. As Volocopter's courseware provider, CAE will develop new, student-centric courseware especially intended for future pilots and provide pilot trainees personalized tools that allow faster, more efficient pilot training.

According to CAE's Advanced Air Mobility white paper, which was released this month (link), advanced air mobility will result in an additional spike in demand for pilots, with an estimated 60,000 pilots required within the first decade of operation. As a result, Volocopter and CAE will collaborate closely to secure regulatory clearance for their future pilot training program.

About Volocopter
Volocopter is creating the world's first sustainable and scalable urban air mobility business to provide cheap air taxi services to megacities across the globe. The VoloCity is the company's first completely electric "eVTOL" aircraft under certification, designed to transport passengers securely and quietly inside cities. Volocopter leads and collaborates with infrastructure, operations, and air traffic management partners to create the ecosystem required to 'Bring Urban Air Mobility to Life.'

Volocopter, founded in 2011 by Stephan Wolf and Alexander Zosel, employs 400 employees across locations in Bruchsal, Munich, and Singapore. The company has raised €322 million in equity. Daimler, Geely, DB Schenker, BlackRock, and Intel Capital are among the investors in Volocopter.

About CAE
CAE is a high-tech firm on the leading edge of digital immersion, offering solutions to make the world a safer place. We continue to reinvent the customer experience and modernize training and operational support solutions in civil aviation, defense and security, and healthcare, backed by a track record of more than 70 years of industry firsts. As a result, we are the preferred partner for customers all over the globe that operate in complex, high-stakes, and heavily regulated settings where successful outcomes are critical. Over 60% of CAE's revenue is recurring, demonstrating our customers' ongoing need for our solutions. With more than 10,000 workers, 160 sites, and training locations in over 35 countries, we have the largest worldwide presence in our industry.

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Wheels Up Finalizes New Investment with Delta, Certares, Knighthead and Cox

Wheels Up | September 26, 2023

Wheels Up Experience (NYSE: UP) today announced that it has closed the previously announced investment by Delta Air Lines, Certares Management LLC, Knighthead Capital Management LLC and Cox Enterprises. The new investment structure combines the experience of Delta, the No. 1 premium airline, with the travel and tourism focus of Certares and turnaround and restructuring experience of Knighthead. It includes an agreement for a $500 million credit facility to Wheels Up, with funds contributed by Delta and CK Wheels LLC, which is co-managed by affiliates of Certares and Knighthead, and Cox. The announcement follows last week's selection of George Mattson as the company's new CEO. "This investment represents both an important source of capital for Wheels Up to support our strategy for financial stability, future profitability and long-term growth on behalf of our members and customers, as well as a vote of confidence in our path forward from a group of investors with deep experience in the premium travel space," Mattson said. "We look forward to working closely with Delta and our other investors to deliver best-in-class operating performance and an exceptional customer experience which, as we deepen our commercial partnership, will also enable us to provide a one-of-a-kind seamless connection between private and premium commercial travel." "Wheels Up is an integral part of Delta's portfolio of premium partners, and this deep relationship offers a significant opportunity to deliver compelling benefits to our customers that are unique in the travel space," said Dan Janki, Wheels Up Chairman and Delta's Chief Financial Officer. "This investment and new leadership puts Wheels Up on a strong path to future success." The credit facility is comprised of a $350 million term loan funded at closing from Delta, CK Wheels LLC and Cox and a $100 million revolving credit facility from Delta. The terms of the credit agreement permit a new lender to provide a $50 million term loan after the closing date, as approved by Delta, Certares, Knighthead and Cox, and it is anticipated this additional funding will close in the near term. In connection with the closing of the credit facility, the lenders will initially receive newly issued Wheels Up common stock representing 80% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. After approval by Wheels Up's stockholders of an amendment to its certificate of incorporation, the company will issue to the lenders additional new shares such that the lenders will own 95% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. Wheels Up also announced a new structure for its Board of Directors. Under the new structure, Delta Air Lines will appoint four directors, Certares and Knighthead each will appoint two directors, and Cox will appoint one director. In addition, one company executive will join the Board and two independent directors are expected to remain from the previous Board. The parties were assisted in the transaction by a number of strategic advisors, including: Davis Polk, Jefferies LLC, Kirkland & Ellis and PJT Partners. About Wheels Up Wheels Up is a leading provider of on-demand private aviation in the U.S. and one of the largest private aviation companies in the world. Wheels Up offers a complete global aviation solution with a large, modern, and diverse fleet, backed by an uncompromising commitment to safety and service. Customers can access membership programs, charter, aircraft management services and whole aircraft sales, as well as unique commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also offers freight, safety and security solutions and managed services to individuals, industry, government, and civil organizations. Wheels Up is guided by the mission to connect private flyers to aircraft, and one another, through an open platform that seamlessly enables life's most important experiences. Powered by a global private aviation marketplace connecting its base of approximately 12,000 members and customers to a network of approximately 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. With the Wheels Up mobile app and website, members and customers have the digital convenience to search, book and fly.

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Aviation Technology

Joby Subsidiary H2FLY Completes World’s First Piloted Flight of Liquid Hydrogen Powered Electric Aircraft

businesswire | September 14, 2023

H2FLY, a wholly-owned subsidiary of Joby Aviation, today announced the successful completion of the world’s first piloted flight of a liquid hydrogen-powered electric aircraft. H2FLY, acquired by Joby in 2021, continues to lead the industry on the development and testing of hydrogen aviation propulsion systems. The company completed a series of piloted flights with its HY4 demonstrator aircraft, including one that lasted more than three hours, fitted with a hydrogen-electric fuel cell propulsion system and liquid hydrogen that powered it for the entire flight. The flights demonstrate the viability of using cryogenically-stored liquid hydrogen instead of gaseous hydrogen, which enables significantly lower tank weights and volume, leading to longer range. The successful installation and demonstration of flight with liquid hydrogen is believed to increase the range of H2FLY’s HY4 demonstrator aircraft from 466 mi (750 km) to 932 mi (1500 km), marking a critical step towards the long-term decarbonization of mid- to long-range aviation. “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft,” said JoeBen Bevirt, Founder and CEO of Joby Aviation. “In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions. It’s critical we take action now and invest aggressively in these technologies for the health of our planet and future generations to come.” The successful flights are the culmination of Project HEAVEN, a European-government-supported consortium assembled to demonstrate the feasibility of using liquid hydrogen in aircraft. The consortium is led by H2FLY and includes the partners Air Liquide, Pipistrel Vertical Solutions, the German Aerospace Center (DLR), EKPO Fuel Cell Technologies, and Fundación Ayesa. Following this test flight milestone, H2FLY will increasingly focus on its path to commercialization. In June, H2FLY announced the development of its new fuel cell systems, which will be capable of providing their full power range at altitudes high enough to enable commercial hydrogen-electric aircraft, demonstrating real-world commercial aircraft applications. About Joby Joby Aviation, Inc. is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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Aviation Technology

Canada Aviation and Space Museum to Include Draganfly Drone Technology in Canada Day Event Celebrations

Globenewswire | July 05, 2023

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Firefly Aerospace Signs Agreement with Lockheed Martin for Alpha Launch Services

PRnewswire | June 30, 2023

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Wheels Up Finalizes New Investment with Delta, Certares, Knighthead and Cox

Wheels Up | September 26, 2023

Wheels Up Experience (NYSE: UP) today announced that it has closed the previously announced investment by Delta Air Lines, Certares Management LLC, Knighthead Capital Management LLC and Cox Enterprises. The new investment structure combines the experience of Delta, the No. 1 premium airline, with the travel and tourism focus of Certares and turnaround and restructuring experience of Knighthead. It includes an agreement for a $500 million credit facility to Wheels Up, with funds contributed by Delta and CK Wheels LLC, which is co-managed by affiliates of Certares and Knighthead, and Cox. The announcement follows last week's selection of George Mattson as the company's new CEO. "This investment represents both an important source of capital for Wheels Up to support our strategy for financial stability, future profitability and long-term growth on behalf of our members and customers, as well as a vote of confidence in our path forward from a group of investors with deep experience in the premium travel space," Mattson said. "We look forward to working closely with Delta and our other investors to deliver best-in-class operating performance and an exceptional customer experience which, as we deepen our commercial partnership, will also enable us to provide a one-of-a-kind seamless connection between private and premium commercial travel." "Wheels Up is an integral part of Delta's portfolio of premium partners, and this deep relationship offers a significant opportunity to deliver compelling benefits to our customers that are unique in the travel space," said Dan Janki, Wheels Up Chairman and Delta's Chief Financial Officer. "This investment and new leadership puts Wheels Up on a strong path to future success." The credit facility is comprised of a $350 million term loan funded at closing from Delta, CK Wheels LLC and Cox and a $100 million revolving credit facility from Delta. The terms of the credit agreement permit a new lender to provide a $50 million term loan after the closing date, as approved by Delta, Certares, Knighthead and Cox, and it is anticipated this additional funding will close in the near term. In connection with the closing of the credit facility, the lenders will initially receive newly issued Wheels Up common stock representing 80% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. After approval by Wheels Up's stockholders of an amendment to its certificate of incorporation, the company will issue to the lenders additional new shares such that the lenders will own 95% of the company's outstanding equity as of the closing of the credit facility, on a fully diluted basis. Wheels Up also announced a new structure for its Board of Directors. Under the new structure, Delta Air Lines will appoint four directors, Certares and Knighthead each will appoint two directors, and Cox will appoint one director. In addition, one company executive will join the Board and two independent directors are expected to remain from the previous Board. The parties were assisted in the transaction by a number of strategic advisors, including: Davis Polk, Jefferies LLC, Kirkland & Ellis and PJT Partners. About Wheels Up Wheels Up is a leading provider of on-demand private aviation in the U.S. and one of the largest private aviation companies in the world. Wheels Up offers a complete global aviation solution with a large, modern, and diverse fleet, backed by an uncompromising commitment to safety and service. Customers can access membership programs, charter, aircraft management services and whole aircraft sales, as well as unique commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also offers freight, safety and security solutions and managed services to individuals, industry, government, and civil organizations. Wheels Up is guided by the mission to connect private flyers to aircraft, and one another, through an open platform that seamlessly enables life's most important experiences. Powered by a global private aviation marketplace connecting its base of approximately 12,000 members and customers to a network of approximately 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. With the Wheels Up mobile app and website, members and customers have the digital convenience to search, book and fly.

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Aviation Technology

Joby Subsidiary H2FLY Completes World’s First Piloted Flight of Liquid Hydrogen Powered Electric Aircraft

businesswire | September 14, 2023

H2FLY, a wholly-owned subsidiary of Joby Aviation, today announced the successful completion of the world’s first piloted flight of a liquid hydrogen-powered electric aircraft. H2FLY, acquired by Joby in 2021, continues to lead the industry on the development and testing of hydrogen aviation propulsion systems. The company completed a series of piloted flights with its HY4 demonstrator aircraft, including one that lasted more than three hours, fitted with a hydrogen-electric fuel cell propulsion system and liquid hydrogen that powered it for the entire flight. The flights demonstrate the viability of using cryogenically-stored liquid hydrogen instead of gaseous hydrogen, which enables significantly lower tank weights and volume, leading to longer range. The successful installation and demonstration of flight with liquid hydrogen is believed to increase the range of H2FLY’s HY4 demonstrator aircraft from 466 mi (750 km) to 932 mi (1500 km), marking a critical step towards the long-term decarbonization of mid- to long-range aviation. “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft,” said JoeBen Bevirt, Founder and CEO of Joby Aviation. “In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions. It’s critical we take action now and invest aggressively in these technologies for the health of our planet and future generations to come.” The successful flights are the culmination of Project HEAVEN, a European-government-supported consortium assembled to demonstrate the feasibility of using liquid hydrogen in aircraft. The consortium is led by H2FLY and includes the partners Air Liquide, Pipistrel Vertical Solutions, the German Aerospace Center (DLR), EKPO Fuel Cell Technologies, and Fundación Ayesa. Following this test flight milestone, H2FLY will increasingly focus on its path to commercialization. In June, H2FLY announced the development of its new fuel cell systems, which will be capable of providing their full power range at altitudes high enough to enable commercial hydrogen-electric aircraft, demonstrating real-world commercial aircraft applications. About Joby Joby Aviation, Inc. is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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Canada Aviation and Space Museum to Include Draganfly Drone Technology in Canada Day Event Celebrations

Globenewswire | July 05, 2023

Draganfly Inc (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is proud to announce their inclusion in the Canada Day celebrations at the Canada Aviation and Space Museum in Ottawa, Ontario on, July 1, 2023. The Canada Aviation and Space Museum has one of the most extensive aviation collections in Canada. Its collection consists of over 130 aircraft and artifacts, focusing on the history of Canadian aviation and its global impact. “It is an honor for Draganfly to be recognized as a pioneer in the aviation industry and to have our latest technology on display alongside other great Canadian aerospace companies at the Canada Aviation and Space Museum,” said Cameron Chell, President, and CEO of Draganfly. Visitors to the Canadian Achievements Drone Zone exhibit will see Draganfly's latest cutting-edge drone technology, the Heavy Lift Drone and Commander 3 XL. Draganfly’s Heavy Lift Drone is a versatile, industrial, multirotor unmanned aerial vehicle (UAV) designed to lift more and fly further. Capable of automated missions and manual flight operations, Draganfly’s heavy-duty, robust UAV has a payload lift capacity of 67 pounds and up to 55 minutes of flight time. Draganfly’s Commander 3 XL Drone is a high-endurance, weather-resistant, multirotor UAV designed for easy assembly and rapid deployment. The “Swiss Army Knife” of drones can drop and winch-down systems to transport up to 22lb of payload. It performs extremely well in light rain and snow. About Draganfly Draganfly Inc. is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize how organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 24 years, Draganfly is an award-winning industry leader serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

Read More

Air Transport

Firefly Aerospace Signs Agreement with Lockheed Martin for Alpha Launch Services

PRnewswire | June 30, 2023

Firefly Aerospace, Inc., an end-to-end space transportation company, today announced it signed a launch agreement with Lockheed Martin to support a technology demonstration mission that will launch aboard Firefly's Alpha vehicle. "Firefly's flight-proven hardware and rapid launch capabilities are well-aligned with Lockheed Martin's mission needs, and we're proud to serve as one of their launch providers," said Bill Weber, CEO of Firefly Aerospace. "We have the infrastructure, technologies, systems, and a dedicated team in place to provide on-demand launch services for both government and commercial customers." Firefly's Alpha rocket provides affordable and responsive launch services with the capability to lift more than 1,000 kg to low Earth orbit. The vehicle utilizes Firefly's patented tap-off cycle propulsion technology and carbon composite sandwich structures to reduce mass and costs and improve strength and reliability. As a launch provider, Firefly provides an important capability to Lockheed Martin in supporting access to space for its key spacecraft technologies. "We are working with Firefly because of their innovative performance in offering access to space for small payloads on Firefly Alpha," said Dan Tenney, vice president, strategy and business development, Lockheed Martin Space. "We look forward to collaborating with them, as we focus on creating a resilient launch environment for our upcoming technology demonstration." About Firefly Aerospace Firefly is an end-to-end space transportation company with launch, lunar, and in-space services. As an all-American company headquartered in central Texas, Firefly is focused on delivering responsive, reliable, and affordable space access for government and commercial customers. Firefly's small- to medium-lift launch vehicles, Space Utility Vehicles, and Blue Ghost lunar landers provide the space industry with a single source for missions from LEO to the surface of the Moon and beyond.

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