Vertical Aerospace appoints Dómhnal Slattery as chairman

Emissions-free-flying pioneer Vertical Aerospace has appointed Avolon chief executive Dómhnal Slattery as chairman.

New York-listed Vertical hopes its electric VX4 aircraft will be licensed and flying commercially by the middle of the decade.

The company is seeking certification from the European Union Aviation Safety Authority for the aircraft.

Vertical announced on Thursday that it has appointed Mr Slattery, a well-known figure in Irish business, as its chairman.

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Avolon, the $30 billion (€27 billion) aircraft leasing business that Mr Slattery founded and leads, invested in Vertical last year.

He founded Avolon 12 years ago with $1.4 billion in capital in 2010. Mr Slattery began his career with Guinness Peat Aviation and GE Capital Aviation Services in 1994.

Mr Slattery subsequently established International Aviation Management Group, which Royal Bank of Scotland bought in 2001.

He subsequently became managing director of the bank’s Structured Asset Finance business, which is now SMBC Aviation Capital.

Stephen Fitzpatrick, Vertical's founder and chief executive, said Mr Slattery's appointment validated the company's ambition to lead its industry globally.

Mr Slattery predicted that the VX4 would materially change world transport.