Business

Jetpack company flying high after Time endorsement

04:25 am on 17 November 2010

A New Zealand company producing jetpacks says it hopes to sell the machines to governments and military around the world.

The Martin Jetpack has been chosen by Time magazine as one of the top 50 inventions of 2010.

The chief executive of Martin Aircraft Company, Richard Lauder, says the jetpack will not be commercially available for a few years yet because of funding difficulties and the necessity of another 18 months' engineering work.

He says the machines will cost US$100,000.