Vertical Aerospace Ltd - EVTL STOCK NEWS

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.

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.

Avolon, a leading aircraft leasing company, has signed a non-binding agreement with AirAsia Aviation Group to lease a minimum of 100 VX4 eVTOL aircraft. This deal reflects a strong demand for Avolon's VX4, with 90% of its order book now placed. The partnership aims to commercialize zero-emissions aircraft and develop an urban air mobility platform in Southeast Asia. The VX4, capable of speeds up to 200 mph and a range of over 100 miles, is set to transform air travel with its advanced capabilities.

Vertical Aerospace has announced a collaboration with Leonardo to develop the fuselage for its VX4 electric aircraft. This joint program includes the design, testing, and production of a carbon composite fuselage, initially for six certification aircraft, with a potential scale-up to 2,000 units annually to meet strong pre-order demand. Vertical’s existing order book comprises up to 1,350 VX4 aircraft, valued at $5.4 billion. This partnership complements Vertical's robust ecosystem of partners, enhancing its position in the eVTOL market.

Vertical Aerospace has appointed Dómhnal Slattery as Non-Executive Chairman of its Board, succeeding Stephen Fitzpatrick. Slattery brings over 30 years of aviation finance experience, having previously founded Avolon, the world's second-largest aircraft leasing company. He will guide the company through the commercialization of its zero-emissions eVTOL aircraft, the VX4. Vertical Aerospace has secured conditional pre-orders for up to 1,350 VX4 aircraft, totaling $5.4 billion, and anticipates VX4 certification by the European Union Aviation Safety Authority by the mid-2020s.