Electra Appoints Former Airbus, Boeing Executives and Aircraft Finance Leader to its Board

MANASSAS, Va. , May 31, 2023 /PRNewswire/ -- Electra.aero, Inc. ("Electra") is pleased to announce the appointment of aviation industry leaders James F. Albaugh and Allan McArtor to its Board of Advisors, and Kirsten Bartok Touw to the company's Board of Directors. They join existing board members Paul Kaminski, General (Ret.) Bryan "Doug" Brown, Peter Joseph, and Laura O'Neill Ott in guiding Electra on its mission to help decarbonize aviation and open new air transportation markets with Electra's hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft.

"I am thrilled to welcome Jim, Allan, and Kirsten to the Electra Board at this important time in the development of our eSTOL aircraft. They bring deep understanding of the industry and an invaluable perspective on aircraft development, operation, finance, and regulation to the team." said John Langford, Founder and Chief Executive Officer of Electra.

"Electra's choice to develop a hybrid eSTOL aircraft is grounded in real experience with a broad range of technologies. I'm impressed with the team's deliberate and thoughtful approach to the aircraft's development, and I'm delighted to join the company at this exciting time as they prepare to demonstrate their proprietary technology in flight" said Albaugh.

"The fixed-wing design of the Electra eSTOL aircraft not only reduces technical risk with better safety and economics compared to vertical takeoff alternatives, the lower complexity also ensures a straightforward path to certification," notes McArtor. "I look forward to helping the team navigate the path to commercial operations and success." 

"Electra is transforming the $150 billion Advanced Air Mobility market by delivering the most flexible, efficient and cost-effective solution for urban and regional transport. It's a pivotal time for the aviation industry and I'm honored to join the Electra Board to help guide the company's growth and financing," shared Bartok Touw.

James F. Albaugh retired as Executive Vice President of the Boeing Company and President and CEO of Boeing Commercial Airplanes in 2012. He also served as President of Rocketdyne Propulsion & Power, President of Boeing Space and Communications, and President of Boeing Integrated Defense Systems. Albaugh is the current Chairman of the National Aeronautics Association, a member of the National Academy of Engineering, and past President of the AIAA.

Allan McArtor is the former Chairman of Airbus Americas, where he served from 2001-2018. Previously, McArtor was Administrator of the FAA (1987-89), founder and CEO of Legend Airlines, and the member of the senior management team at Federal Express who launched their air operations. McArtor served as a decorated fighter pilot in Vietnam, and later flew as a USAF Thunderbird pilot.

Kirsten Bartok Touw is the co-founder and managing partner of AirFinance, which specializes in structured finance, leasing, and the financing of aircraft, with emphasis on emerging markets. She is also the co-founder and managing partner of New Vista Capital, the investment firm focused on aerospace, space, and national security technologies. She previously served as Vice President, Strategy, Structured Finance & Corporate Development at Hawker Beechcraft Corporation (HBC), and was a co-founder, board member and CFO of XOJET, one of the top business jet airlines in the U.S. Earlier, Bartok Touw worked in private equity, venture capital, investment banking and capital markets with Alpine Investors, JPMorgan Partners, and Goldman, Sachs & Co.

About Electra 
Electra.aero, Inc. is a next-gen aerospace company leading the way in sustainable urban and regional mobility. The company is building clean, hybrid-electric, ultra-short takeoff and landing (eSTOL) airplanes that fly people and cargo quieter, further, and more affordably. Electra's technology delivers 2.5x the payload and 10X longer range with 70% lower operating costs than vertical takeoff alternatives with much less certification risk, proving that climate-friendly technology can also be cost-effective. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, and its technology development is supported by NASA and the U.S. Air Force Agility Prime program.

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SOURCE Electra Aero