Martin Aircraft posts full-year loss; on track to sell world's first commercial jetpack next year

Fri, 28 Aug 2015

By Fiona Rotherham Aug. 28 (BusinessDesk) - Martin Aircraft has reported a annual loss of $5.2 million as it continues developing the world’s first commercial jetpack, due out next year. The Christchurch-based company raised $28 million in an initial public offering on the Australian Stock Exchange in February, which saw Chinese entrepreneurial investor KuangChi Science become the largest shareholder with 22.7 percent. The 17-year-old company, which hopes to make first deliveries of its commercial jetpack in the second half of next yea...

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