Dutch electric aircraft developer Maeve Aerospace was declared bankrupt on May 28 by the Amsterdam court, ending a five-year effort to bring a low-emissions regional aircraft to market. The company had 24 employees at the time of the ruling. Its parent company, Green Transition Alliance, was also declared insolvent, and a single administrator will handle both proceedings.

The filing follows earlier reports in May that Maeve planned to cease operations “in its current form” while continuing to look for potential strategic partners or investors.

Founded in 2021 and based in Delft, Netherlands, Maeve had been developing the MJ500 Maeve Jet, a hybrid-electric regional aircraft designed to carry between 76 and 100 passengers approximately 1,700 kilometers, with a target entry into service between 2030 and 2033.

The aircraft was designed to reduce fuel consumption and emissions by up to 40 percent compared to conventional regional aircraft, according to Delta Air Lines, which announced a partnership with the company in September 2025. Pratt & Whitney Canada had also partnered with Maeve to help design the aircraft’s hybrid-electric propulsion system, and MHI RJ Aviation Group agreed to collaborate on engineering and advisory services for the program.

During its development, Maeve Aerospace also attracted interest from SkyWest Airlines and Japan Airlines, both of which had explored partnerships with the company. Maeve had raised a total of approximately $48.5 million across six funding rounds from investors, according to data from PitchBook. The company also received support from the European Commission.

Maeve was unable to raise the €20 million it sought in a new investment round. Founder Jan Willem Heinen told Dutch financial newspaper Het Financieele Dagblad that investors had become reluctant to commit large sums to projects of this type. The company subsequently explored an acquisition to avoid insolvency, but those efforts were unsuccessful. The reasons why a transaction did not materialize have not been publicly disclosed.

Following the bankruptcy, Maeve’s chief technology officer and senior vice president have joined MHI RJ Aviation, according to their LinkedIn profiles. No statement has been issued by Maeve Aerospace or its founder since the court ruling.

The company’s closure comes as several electric and hybrid aviation developers have faced funding pressure amid long certification timelines and capital-intensive development programs. Maeve joins a growing list of sustainable aviation startups, including Germany’s Lilium, which collapsed in late 2024, that have been unable to reach commercial viability before running out of capital.