Flying taxis could poach passengers from planes, Avolon says

FILE PHOTO: A picture from Munich flying taxi startup Lilium shows its five-seater prototype in Munich, Germany, October, 2019. Lilium/Handout via REUTERS

PARIS (Reuters) - Airbus and Boeing watch out - one of the world's largest aircraft owners says passenger planes could see their wings clipped by the rapid spread of flying taxi startups.

Commercial air travel already faces competition from high-speed trains in parts of the world. But the head of Irish aircraft leasing firm Avolon said competition would shift skywards as it invested up to $2 billion in aerial shuttles.