American Airlines plans orders for small, electric-powered aircraft

TORONTO -- American Airlines said Thursday it plans to invest US$25 million in U.K.-based Vertical Aerospace Group and consider a US$1 billion order for small, electric-powered aircraft that can take off and land like helicopters.

The American announcement came as Vertical Aerospace disclosed that it has agreed to merge with special-purpose acquisition company Broadstone Acquisition and become a publicly traded company later this year.

See Full Article



Advertisements

Latest Economic News

  • Restaurants press to keep delivery app caps as they rebound from pandemic

    Economic CTV News
    TORONTO -- Restaurant owners say food delivery apps have taken too big a bite out of their revenues for too long. Food delivery apps were forced to implement lower fees when dine-in service was closed during the COVID-19 pandemic, and restaurants say the change should be made permanent if they are to recover from the crisis. Source
  • Health Canada cracks down on UV wands; Will cheap flights get Canadians flying?: CBC's Marketplace cheat sheet

    Economic CBC News
    Miss something this week? Don't panic. CBC's Marketplace rounds up the consumer and health news you need. Want this in your inbox? Get the Marketplace newsletter every Friday. Airlines are offering cheap domestic flights to entice Canadians back to travel. Source
  • Canadian drug companies want new pricing regs delayed again until after pandemic

    Economic CTV News
    OTTAWA -- Almost three dozen Canadian pharmaceutical companies made a direct appeal to Prime Minister Justin Trudeau last month to delay the new drug pricing regulations for a third time. The companies, including all four of the drugmakers behind the COVID-19 vaccines being used in Canada now, want more time, and less pandemic distraction, to try and make their case to the Liberals that the regulations will do more harm than good. Source
  • Is a summer hiring spree coming as COVID restrictions ease? Depends on who you ask

    Economic CBC News
    When Betty Lou's Library was shuttered during pandemic restrictions last year, it wasn't just the hit to the cash register that hurt the trendy Calgary speakeasy. The business also lost two of its senior floor servers and one of its senior bartenders. Source
  • When international travel resumes, Canada's borders and airports will be very different

    Economic CBC News
    Just as the 9/11 attacks did 20 years ago, the COVID-19 pandemic will transform the way people travel internationally — with hundreds of millions of dollars in new government spending planned for modernizing border security and updating public health measures at airports. Source
  • Cruise lines say no change in sailing plans after new COVID-19 cases

    Economic CBC News
    Royal Caribbean Group and Carnival Corporation will push ahead with a return to cruises this summer despite two guests onboard Royal Caribbean's Celebrity Millennium ship testing positive for COVID-19. More than a year after several cruise ships were host to major coronavirus outbreaks and with large numbers of Americans now vaccinated, cruise lines have been striving to get business going. Source
  • Fashion brand Forever 21 returns to Canada with collections in Hudson's Bay stores

    Economic CTV News
    The clothing brand Forever 21 is making a return to the Canadian market after an agreement with Hudson's Bay Co. allowing them to offer collections inside the department store. Forever 21 debuts today at Hudson's Bay stores in Toronto's Yorkdale Mall and the Square One Shopping Centre in Mississauga, Ont. Source
  • Statistics Canada says household debt-to-income ratio fell in first quarter

    Economic CTV News
    OTTAWA -- Statistics Canada says the amount Canadians owe compared with their income fell in the first quarter compared with the end of last year. The agency says household credit market debt as a proportion of household disposable income on a seasonally adjusted basis fell to 172.3 per cent in the first quarter. Source
  • Growth in Canadian household wealth on track to slow down as economy reopens

    Economic CTV News
    OTTAWA -- Statistics Canada said Friday that household financial assets rose for a fourth consecutive quarter and the debt-to-income ratio fell, but some economists predict the gains may slow down as the economy reopens and spending ramps up. Source
  • 'Unacceptable environmental effects': New federal policy restricts thermal coal

    Economic CBC News
    The federal government is making it more difficult to develop thermal coal in Canada with a new policy that says all such mines create "unacceptable environmental effects." The move erects another roadblock for Coalspur Mines and its Vista mine expansion in Alberta, the only such mine in Canada currently before regulators. Source