Wanfeng buys Volocopter: Will the air taxi fly again after bankruptcy?

Wanfeng buys Volocopter: Will the air taxi fly again after bankruptcy?

A sensational step in the aviation industry: The Chinese group Wanfeng has announced that it will take over the insolvent German air taxi manufacturer Volocopter for 10 million euros. This deal, as mentioned in a stock exchange announcement from Wanfeng at the conclusion of the contract, will be carried out through a newly founded subsidiary based in Berlin, which is 100 percent owned by the Austrian aircraft manufacturer Diamond Aircraft. A spokeswoman for Volocopter has not yet commented on the details of the sale, which became necessary to save the air taxi manufacturer after the company suffered a serious financial crisis. Volocopter entered bankruptcy on Boxing Day 2024, and bankruptcy proceedings were officially opened in early March. Around 450 employees are affected by this situation and have been laid off with immediate effect, as well as both crown as well as BR reported.

The bankruptcy filing represents a decisive turning point for the once promising start-up. Although Volocopter had actually launched revolutionary, fully electric aircraft for urban air mobility, it still lacked the necessary type certification from the European Aviation Safety Agency to transport passengers. Analysts show that hopes for a thriving air taxi industry have been dampened by financial difficulties and a lack of investors. Other companies in this industry, such as Lilium, which have already had to file for bankruptcy, are also under pressure. Volocopter's funding rounds have proven insufficient to sustain stable operations in the long term, despite a capital raise from investors last year.

Future uncertain

The prospects for employees and the business model remain uncertain. Little remains of the original dream of air mobility, especially since government support has failed to materialize. Although Volocopter had started a collaboration with ADAC air rescue to test rescue services, current reports show that modern aircraft could not bring the hoped-for advantages in terms of travel time and CO2 emissions. The entire industry is under pressure to find new solutions while the real challenges of air mobility continue.