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Vertical Aerospace Ltd. develops electric vertical take-off and landing aircraft for the advanced air mobility market. Company news centers on Valo, its piloted four-passenger eVTOL aircraft, including prototype flight testing, transition-flight milestones, certification-focused development, manufacturing preparations, customer demand and supplier agreements for aircraft systems such as transparencies and electric propulsion units.
Updates also cover Vertical's financing activity, including equity raises, convertible financing facilities and liquidity measures used to fund aircraft development, testing, manufacturing capacity and certification work. Recurring disclosures describe its proprietary battery and propeller technology, aerospace supplier network and work with aviation regulators including the UK Civil Aviation Authority and European Union Aviation Safety Agency.
Vertical Aerospace (NYSE: EVTL) announced a conditional pre-order of up to 50 VX4 aircraft by FLYINGGROUP, boosting its total pre-order book to 1,400 aircraft valued at $5.6 billion. This agreement marks Vertical's entry into the business aviation sector, catering to a growing demand for sustainable air travel. The VX4, designed for zero emissions and efficient regional mobility, aligns with FLYINGGROUP's sustainability strategy. A Joint Working Group will explore application strategies and potential MRO services for the VX4.
Vertical Aerospace (NYSE: EVTL) announces a significant milestone with American Airlines (NASDAQ: AAL), confirming delivery slots and pre-delivery payment commitment for 50 VX4 eVTOL aircraft. This follows a conditional pre-order of up to 250 aircraft made by American in June 2021. The partnership aims to explore advanced air mobility in the U.S. The VX4 can transport four passengers, achieving over 100 miles with zero emissions and minimal noise.
Vertical Aerospace (NYSE: EVTL) has partnered with Molicel to supply high-performance battery cells for its VX4 eVTOL aircraft. This collaboration aims to enhance safety, performance, and economic viability of the VX4, targeting entry into service by 2025. Molicel, recognized for its cutting-edge lithium-ion technology and notable clients like NASA, will provide cylindrical cells crucial for the aircraft’s functionality. The partnership focuses on optimizing battery life cycles and ensuring compliance with certification standards while Molicel expands its production capacity in Taiwan.
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Vertical Aerospace Ltd. (NYSE: EVTL; EVTLW) has released its first shareholder letter and filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021. The letter includes operating results and management commentary. CEO Stephen Fitzpatrick highlighted significant milestones, such as the company's NYSE listing and hiring key talent. Vertical has received conditional pre-orders for up to 1,350 eVTOL aircraft from major partners, aiming to revolutionize air travel with zero emissions. Shareholders can request a hard copy of the Annual Report.
Vertical Aerospace (NYSE: EVTL) announces significant advancements in its certification process for the VX4 electric VTOL aircraft. The company has appointed former EASA Certification Director Trevor Woods as Director of Regulatory Affairs and received concurrent validation from both EASA and the UK CAA. Vertical anticipates receiving Design Organisation Approval (DOA) later this year, aiming for the widest scope ever granted to an eVTOL manufacturer. With plans for entry into service in 2025, Vertical expresses optimism about swift validation efforts across international regulatory bodies.
Vertical Aerospace (NYSE: EVTL) has announced that Avolon has successfully pre-ordered 500 VX4 electric aircraft within nine months, demonstrating substantial market demand for its technology. The VX4 will serve globally with pre-orders extending to regions including Turkey, UK, Japan, Brazil, and Southeast Asia, totaling a significant $5.4 billion in value. Avolon's collaboration with major airlines reflects confidence in Vertical's aircraft, which is on track for a mid-decade launch. The VX4 is designed for zero-emission travel, promising to revolutionize short-haul air travel.
Avolon has partnered with Gözen Holding to commercialize zero-emissions eVTOL travel in Turkey. This agreement includes a commitment to purchase or lease up to 50 VX4 eVTOL aircraft, with an option for 50 more. Avolon has fully placed its order for 500 VX4s, oversubscribed by 50 options. The partnership aims to develop an urban air mobility platform leveraging both companies' expertise. CEO Dómhnal Slattery highlighted the potential of VX4 to reshape short-haul travel, while Gözen Holding's CEO Mekin Gözen emphasized the sustainability aspect in Istanbul's congested environment.
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Vertical Aerospace (NYSE: EVTL) has secured a partnership with AirAsia to lease a minimum of 100 VX4 electric aircraft through Avolon, extending its presence in Southeast Asia. This agreement follows significant pre-orders, totaling 1,350 aircraft worth $5.4 billion, from major airlines, including American Airlines and Virgin Atlantic. The VX4 promises zero operational emissions, speeds of up to 200 mph, and a range exceeding 100 miles, aiming to revolutionize urban air mobility. This marks AirAsia's first placement since Vertical's NYSE listing in December 2021.