Volocopter files for bankruptcy while pursuing funding and aircraft certification

Volocopter, a German electric air taxi manufacturer, has filed for bankruptcy while seeking new investments to continue operations. The company aims to certify its VoloCity aircraft for market entry in 2025, despite recent fundraising challenges. The Karlsruhe Local Court has appointed Tobias Wahl as the administrator for Volocopter's provisional insolvency. Wahl plans to prepare a restructuring plan and seek additional funding to support the company's operations and certification efforts. Volocopter has been conducting daily test flights to gather data for certification. The company is currently 75% through the third of four audit stages required for type certification by the European Union Aviation Safety Agency.