FutureFlight
Review of Certification Process and Key Supplier Contributions Prompted Vertical's eVTOL Aircraft Program Delay
The UK company now expects its four-passenger vehicle to complete concurrent UK and EASA type certification in late 2026.
Vertical Aerospace has been conducting tethered hover flight tests with its VX4 eVTOL aircraft.
Vertical Aerospace has been conducting tethered hover flight tests with the first prototype for its VX4 eVTOL aircraft. (Image: Vertical Aerospace)

Multiple factors drove Vertical Aerospace’s decision earlier this month to push back the target date to certify its VX-4 four-passenger eVTOL aircraft to the end of 2026. But according to the UK company’s chief technology officer, Michael Cervenka, diminishing cash reserves wasn’t one of them, even though it is now launching a new round of fundraising to help cover its needs from late 2024 until when it begins series production and initial deliveries to operators.

As of the end of the first quarter on March 31, Vertical had £104 million ($131 million) in its coffers. Contributing to the inevitable start-up operating loss of £23 million, research and development expenses, at £12.6 million, were 55 percent higher than in the same period in 2022, while “administrative” spending of £11.7 million was almost unchanged.