German urban air mobility (UAM) company Volocopter GmbH filed an application for the opening of insolvency proceedings at the Karlsruhe Local Court in Germany on December 26, 2024.
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, partner, and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator.
Dirk Hoke, CEO of Volocopter commented: “We are ahead of our industry peers in our technological, flight test, and certification progress. That makes us an attractive company to invest in while we organise ourselves with internal restructuring.”
Business operations are said to be continuing as usual during the provisional insolvency proceedings. The provisional insolvency administrator has now held a staff meeting to inform employees about the current situation.
The company aims to enter the market in 2025 following VoloCity's certification by the European Union Aviation Safety Agency (EASA).