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Celera 500L is a commercially viable passenger aircraft being developed by Otto Aviation Group. Credit: OTTO AVIATION GROUP LLC.
The maximum cruise speed of the aircraft will be 724km/h. Credit: OTTO AVIATION GROUP LLC.
The bullet-shaped passenger aircraft will feature six first-class equivalent seats. Credit: OTTO AVIATION GROUP LLC.
The aircraft will be powered by a six-cylinder RED A03 engine. Credit: RED Aircraft GmbH.
Celera 500L is a fuel-efficient bullet-shaped passenger aircraft being developed by Otto Aviation Group. The aircraft is designed to ensure low-cost private air transportation between cities.
The mid-wing monoplane is expected to become the most significant innovation for private air transportation in decades.
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The Economist points out, the five-year period before the pandemic was the only one since Orville and Wilbur Wright made their first flight in 1903 in which the industry covered its cost of capital. Burned again by COVID-19, many investors the likes of Warren Buffet have now decided to stay away from anything that flies.
Additionally, the forecast made in May 2020 by the International Air Transport Association (IATA) that passenger numbers would return to pre-pandemic levels by 2023 now looks optimistic. But IATA’s prediction that only 30 of the world’s 700 or so airlines would survive the crisis without government help was right on the nose.