Do not write off flight taxes too quickly


Animation of the new seven-seater flying taxi from Lilium

The German air taxi startup will in future be listed on the US technology exchange Nasdaq.

(Photo: Lilium)

Whenever things get hectic on the stock market, caution is advised. Because hectic rush is often associated with exaggeration. This can be clearly observed at the moment when it comes to air taxis. In the past four weeks, three start-ups have ventured out onto the floor or are about to do so. The time window for IPOs via a merger with a blank company (Spac) is slowly closing again. At the same time, the euphoria surrounding the electric whiz kid is slowly subsiding. It is important to take advantage of opportunities quickly before they disappear.

From the investor’s point of view, skepticism is definitely appropriate. But from the point of view of the start-up, the approach is understandable. You will still need a lot of money in order to be able to realize your ambitious plans with the flying taxis. Once it is anchored in the capital market, it is much easier. In the end, what matters is that what was promised is delivered.

But even if one or the other schedule is broken in the end, even if the high-flyers take off later or in smaller numbers – what companies like Lilium achieve deserves great recognition. Because with their passion and commitment, they advance electrification in the sky.

Nobody can currently seriously estimate how the development of air taxis will continue in the coming months and years. The subject is highly complex, the start-ups operate in a highly regulated market with enormous security requirements. In addition, a lot depends on factors that the start-ups cannot directly influence. Only battery technology should be mentioned, where various new ideas are currently being researched and worked on.

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Therefore, to deny the pioneers any market opportunities would be grossly negligent. Because aviation is facing a major upheaval: It should and must become climate neutral. Unlike in the automotive sector, for example, this is not so easy. There is simply no one technology that will ensure climate neutrality for at least the next two or three decades.

Aviation must become climate neutral

In the short term, synthetic kerosene (SAF) produced with green electricity is the means of choice for the climate change in the sky. In second place, however, comes the topic of electric drives. The fact that this is by no means a pipe dream is shown, for example, by the order for small e-cargo planes by DHL / Deutsche Post. Smaller aircraft are predestined to be equipped with an electric drive. Batteries are sufficient for the shorter distances.

These aircraft are also often stationed at smaller and decentralized airports. It is much easier for them to set up a charging station than the infrastructure and supply chain for refueling with synthetic fuel. In the first few years, SAF will primarily be available at large hubs because that is where long-haul jets take off and land.

This is where young companies such as Lilium, Volocopter or Joby Aviation come into play. Your idea of ​​transporting a limited number of passengers over the traffic jams on the road may sound like VIP service for the well-to-do. Indeed, the question is justified whether the flying taxis can make a significant contribution to solving our mobility problems.

But even if such services should ultimately take place in the niche, developing the necessary device is important. For example, the startups could still market their technology. Once it is ready for the market, it should be in great demand. It wouldn’t be the first time that start-ups with technologies that at first glance seem weird have turned a market upside down.

The opportunity for this is great, especially in aviation. Established manufacturers Boeing and Airbus are having a hard time pushing completely new technologies with power. Boeing has already experienced a terrible crash landing with the modification of the short- and medium-haul jet 737 and is now all the more cautious. Airbus, on the other hand, has advanced on the subject of hydrogen, but has recently slowed down expectations a little.

Start-ups such as Lilium approach the topic more impartially. The biggest challenge for the newcomer to the stock market is now, with the expectations of the shareholders behind them, not to lose the enthusiasm for and the firm belief in their own idea.

More: This is what the newcomer Lilium promises investors – and the risks are so great

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