FutureFlight
Cash Reserve Reporting Reveals Haves and Have-nots among eVTOL Aircraft Developers
Vertical Aerospace has confirmed that its VX4 eVTOL prototype aircraft was involved in a safety incident during flight testing at Cotswold Airport in the UK.
Vertical Aerospace's VX4 eVTOL prototype recently started untethered flight testing.
Like other eVTOL aircraft developers, Vertical Aerospace faces heavy expenditure as it works to achieve type certification and prepare for first deliveries and the launch of commercial services. (Image: Vertical)

A spate of financial-results announcements over the past week paints a vivid picture of haves and have-nots in the advanced air mobility sector. At one end of the spectrum, Joby Aviation’s robust second-quarter balance sheet showed $1.2 billion in cash and short-term investments, while at the other end, rival eVTOL aircraft developer Vertical Aerospace reported it has just £89.7 million ($114.8 million) in its war chest.

On Wednesday, Vertical confirmed that its VX4 prototype aircraft was involved in an incident during flight testing being conducted at Cotswold Airport in the UK. According to the company, there were no injuries, but it has yet to confirm any details as to how much the remotely piloted aircraft may have been damaged.