Aston Martin unveils ‘sports car for the skies’ at Farnborough Airshow

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A model of the Aston Martin Vision Volante Concept aircraft is displayed at the Farnborough Airshow. (AFP / BEN STANSALL)
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A model of the Aston Martin Vision Volante Concept aircraft is displayed at the Farnborough Airshow. (AFP / BEN STANSALL)
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A model of the Aston Martin Vision Volante Concept aircraft is displayed at the Farnborough Airshow. (AFP / BEN STANSALL)
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A model of the Aston Martin Vision Volante Concept aircraft is displayed at the Farnborough Airshow. (AFP / BEN STANSALL)
Updated 18 July 2018
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Aston Martin unveils ‘sports car for the skies’ at Farnborough Airshow

  • The Volante Vision Concept design has vertical take-off and landing (VTOL) capabilities and will be able to hit speeds of around 200mph
  • Aston Martin believes it could corner the market for luxury flying vehicles in the future

FARNBOROUGH: James Bond would love it. Aston Martin, maker of the luxury sports cars favored by the fictional British spy, has now come up with a futuristic personal aircraft it has dubbed “a sports car for the skies.”
Aston Martin unveiled the three-seater hybrid-electric vehicle this week at the Farnborough Airshow and, though the concept remains for now the stuff of science fiction, believes it could help one day to revolutionize travel.
The Volante Vision Concept design has vertical take-off and landing (VTOL) capabilities and will be able to hit speeds of around 200 miles per hour (322 kph), “so you can go from the center of Birmingham to the center of London in about 30 minutes,” Aston Martin’s Simon Sproule told Reuters.
Aviation and technology leaders are working to make electric-powered flying taxis a reality, including Airbus, US ride-sharing firm Uber and a range of start-ups including one backed by Google co-founder Larry Page, called Kitty Hawk.
Aston Martin believes it could corner the market for luxury flying vehicles in the future.
“The same way that you have Uber and you have an Aston Martin, you’ll have ‘Uber in the skies’ and you’ll have ‘Aston Martin in the skies’,” said Sproule, adding that such an aircraft won’t come cheap.
“This is clearly a luxury object — it’s a sports car for the skies — so pricing is going to be commensurate with that, so certainly into the seven figures.”

“FEELS LIKE A FIGHTER JET”
The company has partnered with Cranfield University, Cranfield Aerospace Solutions and British jet engine maker Rolls-Royce to develop the concept vehicle, including artificial intelligence-powered autonomous capabilities.
“It feels like a fighter jet but at the same time it has the Aston Martin luxury,” said David Debney, chief of future aircraft concepts at Rolls-Royce.
Commenting on how to pilot the vehicle, Cranfield’s Helen Atkinson said: “You’ve got to detect what’s going on in the external environment and then turn that around incredibly quickly in the computer system with the artificial intelligence built in to actually achieve the necessary level of autonomy.”
Separately at Farnborough, Rolls-Royce unveiled plans for a flying taxi — an electric vertical take-off and landing (EVTOL) vehicle which could carry four to five people at speeds of up to 250 miles (400 km) per hour for approximately 500 miles.
The company said it was starting a search for partners to help develop a project it hopes could take to the skies as soon as early next decade.


Oil mixed on tighter US outlook

Updated 21 August 2018
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Oil mixed on tighter US outlook

  • Traders said US markets were lifted by a tightening outlook for fuel markets in the coming months
  • The Iran supply cut may also be more than compensated for by production increases outside OPEC

SINGAPORE: Oil prices were mixed on Tuesday, with US fuel markets seen to be tightening while the Sino-US trade dispute dragged on international crude contracts.
US West Texas Intermediate (WTI) crude futures for September delivery were up 27 cents, or 0.4 percent, at 0306 GMT, at $66.70 per barrel. The contract expires on Tuesday.
The more active October futures were up 7 cents, or 0.1 percent, to $65.49 a barrel.
Traders said US markets were lifted by a tightening outlook for fuel markets in the coming months.
Inventories in the United States for refined products such as diesel and heating oil for this time of year are at their lowest in four years.
This is occurring just ahead of the peak demand period for these fuels, with diesel needed for tractors to harvest crops and the arrival of colder weather during the Northern Hemisphere autumn raising consumption of heating oil.
Outside the United States, Brent crude oil futures were somewhat weaker, trading at $72.18 per barrel, down 3 cents from their last close.
This followed the United States offering on Monday 11 million barrels of crude from its Strategic Petroleum Reserve (SPR) for delivery from Oct. 1 to Nov. 30.
The released oil could offset expected supply shortfalls from US sanctions against Iran, which will target its oil industry from November.
Because of the sanctions, French bank BNP Paribas said it expected oil production from the Organization of the Petroleum Exporting Countries (OPEC), of which Iran is a member, to fall from an average of 32.1 million barrels per day (bpd) in 2018 to 31.7 million bpd in 2019.
Still, traders said overall market sentiment was cautious because of concerns over the demand outlook amid the trade dispute between the United States and China.
A Chinese trade delegation is due in Washington this week to resolve the dispute, but US President Donald Trump told Reuters in an interview on Monday he does not expect much progress, and that resolving the trade dispute with China will “take time.”
The impact of the Iran sanctions is not yet clear.
China has indicated that it will continue to buy Iranian oil despite the US sanctions.
The Iran supply cut may also be more than compensated for by production increases outside OPEC.
BNP Paribas said non-OPEC output would likely grow by 2 million bpd in 2018 and by 1.9 million bpd next year.
“Depending on when pipeline infrastructure constraints are lifted in the US, non-OPEC supply growth by the end of 2019 may prove higher than currently assumed,” the bank said.
The search for new oil has increased globally in the last two years, with the worldwide rig count rising from 1,013 at the end of July 2016 to 1,664 in August 2018, according to energy services firm Baker Hughes.
The biggest increase was in North America, where the rig count shot up from 491 to 1,057 in the last two years.
How prices develop will also depend on demand.
“We see global oil demand growing by 1.4 million barrels per day in both 2018 and 2019,” BNP Paribas said, implying that global markets are likely to remain sufficiently supplied.