Benzinga | Aug 10, 2021 04:36PM EDT

GE Aviation To Supply Engine To Transcend Air For Vy 400 High Speed VTOL Aircraft

* General Electric Company's (NYSE:GE) GE Aviation has agreed with Transcend Air Corporation to develop and certify a custom variant of GE's class-leading CT7-8 turboshaft helicopter engine to power the Vy 400 High-Speed Vertical Takeoff and Landing (HSVTOL) aircraft.

* The vertical takeoff and landing capabilities of the Vy 400 aircraft give Transcend Air access to demand-rich centers of major cities. The high-speed Vy 400 travels more than 400 miles per hour, making the journey from Manhattan to Boston 36 minutes.

* "We immediately recognized the Vy 400's disruptive potential in both civil and military rotorcraft applications, and we are excited to contribute our own world-class engines and technical expertise in helping to ensure the Vy's success," commented Harry Nahatis, Vice President & General Manager of GE Rotorcraft Engines.

* Price Action: GE shares closed higher by 2.30% at $106.08 on Tuesday.