Aviation industry veteran Dómhnal Slattery has become the new chairman of electric plane-maker Vertical Aerospace.

Dómhnal Slattery is currently the founding CEO of Avolon, the world's second largest aircraft leasing company.

Mr Slattery remains CEO of Avolon, which is also a customer of, and an investor in, Vertical.

He succeeds Stephen Fitzpatrick as Chairman, who has held the combined role of Chairman and chief executive since Vertical listed on the New York Stock Exchange in December 2021.

Vertical Aerospace is developing small electric planes capable of vertical take-offs and landings. The planes can carry four passengers a distance of roughly 160km, with plans to start commercial flights in 2024.

Stephen Fitzpatrick, Vertical founder and CEO, said that Dómhnal is an outstanding appointment for Vertical.

"His proven track record over the last 30 years in aviation finance is unrivalled and he brings senior level relationships with every major organisation across the global aviation industry. Dómhnal's vision for zero emissions flight will be invaluable for the Vertical Board and its shareholders, and his appointment validates our ambition to lead the eVTOL sector globally," he added.

Dómhnal Slattery said that Vertical is in the vanguard of innovation in the global aviation industry.

"Over the past five years, Stephen has assembled an unrivalled team with a vision to revolutionise aviation through zero emissions air travel. I am excited to have the opportunity to deliver that vision and bring to market the VX4, an aircraft that will materially change the face of the transportation sector globally as we transition towards a net zero economy," he added.