2024 Corporate Aviation Leadership Summit

Charles Alcock

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

News about commercial airlines, including regulations, aircraft orders, safety, acquisitions, and mergers.

The UK start-up aims to demonstrate the four-passenger aircraft at the Farnborough Airshow

Vertical Aerospace Close to Flight Testing New eVTOL Prototype

News about environmental issues relating to aircraft operations, including noise issues, emissisions, and regulations. See Fuel for biofuel.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Electric aircraft developers will face scrutiny from independent analysts and the financial community

Revolution.Aero Draws Advanced Air Mobility Leaders to London

News and information on safety procedures and concerns.

Stuart Simpson is currently the UK start-up's CFO

Vertical Appoints New CEO To Bring eVTOL Aircraft to Market

UK company wants to complete type certification in 2026.

Vertical's Second VX4 eVTOL Aircraft Almost Assembled for Flight Testing

The UK government’s Aerospace Technology Institute (ATI) this week awarded £8 million ($10 million) to support Vertical Aerospace’s efforts to bring its four-passenger VX4 eVTOL aircraft to market. The grant, which increases total government backing for the program to £37 million, will be used to complete the development of the lift-and-cruise vehicle’s propellers.
The new funding comes almost a month after Vertical’s founder and CEO, Stephen Fitzpatrick, provided a <a href="https://www.futureflight.aero/news-article/2024-01-22/vertical-founder-pledges-50-million-sustain-work-vx4-evtol-aircraft">$50 million investment </a>to sustain work on the VX4, for which the UK company aims to complete type certification by the end of 2026. This capital will be provided through a first tranche of $25 million in return for shares priced at $10 in a deal set to close by March, followed by a second payment of $25 million at a share price to be determined by July 31.
According to Vertical, it now has sufficient cash to support the program into the second quarter of 2025. The company is preparing to start flight testing a second VX4 prototype, which is being assembled at GKN Aerospace’s Global Technology Centre in the UK.
The ATI funding for work on the VX4’s propellers will be conducted by a consortium that also includes the University of Glasgow, the University of Bristol, Cranfield University, and Helitune, a helicopter parts supplier. Bristol-based Vertical will lead this consortium, whose other members are set to receive £3.5 million in funding.
“The project will see advancements in rotor technologies vital to the success of eVTOL aircraft developed here in the UK, growing knowledge, skills, and capability in the process,” said Mark Scully, head of technology for propulsion and advanced systems at ATI. “Through this investment, the ATI program is enabling the development of ultra-efficient and cross-cutting technologies in a competitive global market expected to be worth £24 billion to the UK up to 2050, accelerating the delivery of zero-emission aircraft on our journey to Destination Zero.”

Managing Editor

UK Government Grants Vertical $10 Million Funding for eVTOL Propeller Development

Vertical Aerospace’s founder and CEO, Stephen Fitzpatrick, is making a further $50 million investment in the UK start-up to sustain its work on the VX4 four-passenger eVTOL aircraft. Announcing the move on Monday, the New York Stock Exchange-listed company said the capital will be provided in a first tranche of $25 million for shares priced at $10 that is set to close by March, and then in a second payment of $25 million at a share price to be determined by July 31.
According to Vertical, the fresh funding will provide sufficient cash to support the program into the second quarter of 2025. The company said it is in discussions with other prospective sources of capital as it prepares to start flight testing a second VX4 prototype in the next few months.
In December, the New York Stock Exchange warned Vertical that it would face removal from the exchange unless its shares traded above $1 over 30 days in the following six months. In trading on Tuesday, the stock closed at 67 cents, which represented an improvement on the January 19 closing price of 59 cents.&nbsp;
Assembly of the second prototype is said to be near completion at GKN Aerospace’s Global Technology Centre in the UK. This facility is close to Vertical’s headquarters in Bristol, and flight testing will likely be conducted at the nearby Cotswold Airport, where the <a href="https://www.futureflight.aero/news-article/2023-10-10/vertical-provides-more-details-evtol-accident-flight-testing-resume-earlyhttps://www.futureflight.aero/news-article/2023-08-31/bonding-issue-propeller-caused-verticals-vx4-evtol-prototype-crash">first prototype aircraft </a>was badly damaged during a flight test last year.
<h3 class="subheading">VX4 eVTOL Is Being Lined Up for Public Debut at Farnborough International Airshow</h3>
Vertical said it intends to conduct a public flight demonstration with the next VX4 prototype at the Farnborough International Airshow in July. It also intends to conduct demonstration flights in and out of London Heathrow Airport. 
Vertical will use data from the flight test program to refine the design for the all-electric aircraft, which it says is on track to receive UK and EASA <a href="https://www.futureflight.aero/news-article/2023-05-22/review-certification-process-and-key-supplier-contributions-prompted">type certification</a> at the end of 2026. The second prototype includes more systems and technology provided directly by key partners, including Honeywell Aerospace, Leonardo, Hanwha, GKN, and Molicel.
Unaudited results for 2023 show that Vertical used just $95 million in net cash for operations. The company is taking an asset-light, low-capital approach to bring its eVTOL vehicle to market by comparison with better-funded U.S. rivals like Joby and Archer.
“Since founding Vertical in 2016, I have continued to believe in the enormous potential the company has to pioneer zero carbon aviation,” said Fitzpatrick, who is the CEO of Ovo Energy. “The company has achieved significant technical progress both in its prototype program and its certification plans in 2023 that I believe is not reflected in our share price. Given the success I have seen in the past 12 months, I am more confident than ever in our world-class team, and I am delighted to further support the company with additional funding.”
According to Vertical, it holds provisional preorders from more than 12 customers worldwide for 1,500 of the VX4 aircraft, which it says are worth over $5 billion. Last year, it received its design organization approval from the UK Civil Aviation Authority and opened the <a href="https://www.futureflight.aero/news-article/2023-03-14/vertical-aerospace-opens-vertical-energy-centre-evtol-battery-development">Vertical Energy Centre</a> where it will complete the assembly of its battery-electric powertrain with cells produced by Molicel.
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Vertical Founder Pledges $50 Million To Sustain Work on VX4 eVTOL Aircraft

With the UK’s Air Accident Investigation Branch still probing the August 9 crash of Vertical Aerospace’s first full-scale VX4 eVTOL aircraft prototype, the company has discussed details about the incident in recent weeks. During the recent Royal Aeronautical Society’s Future of Flight Summit in London, Vertical’s leadership team said it is confident of having a second prototype ready to resume flight testing in the first quarter of 2024, with a third example of the four-passenger vehicle to follow by the middle of next year as the company works toward&nbsp;its type certification target in 2026.
For the remotely piloted flight at Cotswold Airport in southwest England on August 9, the left outboard electric motor was set to zero speed when the aircraft took off in ground effect and climbed out. It had just reached forward flight when the <a href="https://www.futureflight.aero/news-article/2023-08-31/bonding-issue-propeller-caused-verticals-vx4-evtol-prototype-crash">propeller on the opposing wing failed</a>. 
According to Vertical, the ensuing imbalance caused a shock load, breaking the pylon in front of the wing, and triggering the high-voltage protection system to successfully isolate the failure. However, despite spinning up the non-operational motor, electrical interference from an unexpected short-circuit resulted in several other motors now de-powering. With these running at less than 57 percent power and the aircraft unable to maintain altitude, a level attitude was held until an inevitable "heavy landing"&nbsp;occurred. Although asymmetric forces asserted on the chassis resulted in a broken wing at the point of the inner pylon, the chassis remained intact. 
“The prop that failed is an early standard,"&nbsp;Vertical’s CTO, Michael Cervenka, told AIN. He explained that the initial central composite spar design has&nbsp;since been upgraded to an optimized co-bonded design, manufactured by a new, as-yet-undisclosed supplier. 
The crash occurred as the first phase of VX4 flight testing drew to a close, with the program having been extended to encompass more than initially planned. “The point of these vehicles is to learn,” Cervenka said.
<h3 class="subheading">More Purpose-built Components in Next VX4 Prototypes</h3>
The second and third VX4 prototypes will include around 60 percent of components provided by leading industry partners including Leonardo. This contrasts with the first iteration of the eVTOL built three years ago using mainly commercial, off-the-shelf hardware. According to Cervenka, this means the new prototypes will be&nbsp;“very much a stepping stone towards certification.”
The aircraft will be assembled at its partner GKN’s Aerospace Global Technology Centre near Bristol, where <a href="https://www.futureflight.aero/news-article/2023-05-22/review-certification-process-and-key-supplier-contributions-prompted">Vertical is based</a>. It also intends to scale up production of its proprietary batteries. 
The start-up would like to establish a site for mass production of the eVTOL model somewhere close by, indicating that this decision may hinge on getting financial support from the UK government. However, in recent weeks, the country's Conservative government has reversed some commitments made to achieving net zero carbon targets, raising concern about whether incentives for green aviation will be available in the future.

Vertical Provides More Details on eVTOL Accident with Flight Testing To Resume in Early 2024

News about significant aircraft accidents and information from accident reports.

Two more prototypes are under construction, and certification timeline is unchanged

Propeller Fault Caused Vertical's eVTOL Prototype Crash

Vertical Aerospace says a bonding issue in a propeller was the root cause of an <a href="https://www.futureflight.aero/news-article/2023-08-10/vertical-silent-possible-impact-evtol-aircraft-prototype-flight-test-crash">August 9 accident </a>that badly damaged its VX4 eVTOL prototype aircraft during flight testing at Cotswold Airport in the UK. On Thursday, the company said it had submitted a report to the country’s Air Accident Investigation Branch and is preparing to start flying a second, more advanced, prototype of the four-passenger all-electric vehicle in early 2024.
“The early-generation propeller had already been redesigned prior to the incident, with the issue fully resolved ahead of the next phase of testing,” the UK start-up said in a press statement. “Further recommendations by the investigation [team] are being implemented by Vertical.”
According to Vertical, the fault that triggered the release of a single propeller started when another of the VX4’s electric propulsion units was intentionally disabled for a test. This resulted in an excessive balance load, which caused the failure of one of the supporting pylon structures.
Vertical’s engineering team reported that proprietary technology, including the high voltage and battery systems, performed well during the incident. “Voltage, current, and power all stayed within acceptable limits, and cell temperatures were considered normal during and after the incident,” the report concluded.
The company said it will issue a more comprehensive update on the accident once the AAIB’s investigation is complete. Its initial statement indicated that the unexpected fault had caused&nbsp;“the aircraft to enter a stable descent&nbsp;before being damaged on impact with the ground.”
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 <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <img loading="lazy" src="/sites/default/files/futureflight/import/IMG_9017%202.jpg" width="3024" height="2023" alt="Vertical's first VX4 eVTOL prototype" title="The first prototype for Vertical's VX4 eVTOL aircraft crashed during flight testing on August 9 due to a failure in a single propeller.">

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 <div class="field field--name-field-caption field--type-string-long field--label-hidden field__item">The first prototype for Vertical's VX4 eVTOL aircraft crashed during flight testing on August 9 due to a failure in a single propeller.</div>
 
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<figcaption>The first prototype for Vertical's VX4 eVTOL aircraft crashed during flight testing on August 9 due to a failure in a single propeller.</figcaption>
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Despite the setback of the accident, Vertical said it managed to complete what it called its remote thrustborne flight test campaign with the VX4 during July, with the aircraft achieving its target speed of 40 knots (70 mph) and&nbsp;“demonstrating exceptional overall stability and control.” The company also reported that performance targets for the remotely piloted, untethered flights were generally exceeded by 10 to 30 percent during hover and low-speed flights.
“The prototype performed especially well in sustained hover, typically the most challenging regime for a VTOL aircraft, where it maintained level flight for longer than anticipated,” said Vertical’s initial report. “The aim of these thrustborne flight tests was to verify acceptable stability, battery efficiency,&nbsp;and control characteristics, aerodynamics, structural loads, performance, and vibration throughout this speed range—all of which were achieved.”
Type Certification Timeline Unchanged
Stressing that <a href="https://www.futureflight.aero/news-article/2023-05-22/review-certification-process-and-key-supplier-contributions-prompted">type certification timelines for the program are unchanged</a>, Vertical said it is also working to build another full-scale prototype, which&nbsp;would be ready to fly in the second half of next year. Honeywell, GKN Aerospace, Hanwha, Solvay, Leonardo, and Molicel are contributing as key program partners.
The two aircraft being prepared will have improved structures and subsystems that will get them closer to a production specification to prepare for type certification, which is anticipated in 2026. Both will require a permit to fly from the UK’s Civil Aviation Authority (CAA) to be released to start piloted flights.
“We are pleased with our flight test progress to date and the data, insights, and invaluable learnings we have collected,” commented Vertical’s founder and CEO Stephen Fitzpatrick. “While a fault of any sort is disappointing, it is not wholly unexpected at this stage of testing a novel aircraft. I am pleased that as a result our expert team has isolated the cause of the fault and has been able to provide the AAIB with our report within 14 days of the incident.”
The aircraft that crashed on August 9 will now be used only for ground testing. The type of propeller blade on this first prototype will not be used on later models.
"Test flights are a key part of advancing aviation safety and technology," commented the CAA's joint interim chief executive Rob Bishton. "As the regulator it's important to create conditions in which companies can safely innovate. That environment is one that is safe, robust and sustainable, one which enables companies to develop and test their solutions in the knowledge that we are supporting them in an open and clear way."
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Bonding Issue with Propeller Caused Vertical's VX4 eVTOL Prototype To Crash

Vertical Aerospace has yet to comment on how damage to its eVTOL prototype aircraft during an August 9 flight test might impact its timeline for achieving type certification for the four-passenger vehicle by the end of 2026. The company has acknowledged that the first VX4 prototype was involved in “an incident” during untethered, remotely-piloted flight testing at Cotswold Airport in the UK and reported that no one was injured.
Several photos of the VX4 circulating online show what appears to be significant damage to the starboard wing, as well as to one or more of the tilting propellers and electric motors, and part of the landing gear. According to a report in the UK publication&nbsp;Pilot, a source at Cotswold Airport said that the aircraft had crashed to the ground from a height of around 20 feet. 
Vertical Aerospace has said it will be making no further comment on the incident for now, beyond the following written statement the public company made&nbsp;in a required 6-K filing to the U.S. Securities and Exchange Commission:&nbsp;"Our flight test program is designed to establish the limits of the aircraft's performance, and the incident occurred during an uncrewed test of the aircraft's maneuverability during a motor failure test scenario, which is a key requirement to progress to crewed operations. We are working closely with the relevant authorities."
With the UK-registered tail number G-EVTL, the damaged aircraft is Vertical’s first full-scale prototype. It started tethered flight testing in a hangar at Cotswold Airport in September 2022 using ground power. On July 19, the company reported that the vehicle had <a href="https://www.futureflight.aero/news-article/2023-07-19/vertical-aerospace-starts-untethered-flight-testing-vx4-evtol-aircraft">started untethered flight testing </a>several weeks earlier, saying that it had achieved speeds of 40 knots with some forward movement in hover mode.
According to Vertical, only around 15 percent of the parts and equipment for the first prototype were provided by came its strategic partners, with the company using&nbsp;interim off-the-shelf hardware from UK suppliers. The vehicle does feature Honeywell’s wiring system, which controls the electric motors. Vertical is developing its <a href="https://www.futureflight.aero/news-article/2023-03-14/vertical-aerospace-opens-vertical-energy-centre-evtol-battery-development">own batteries</a>.
<h3 class="subheading">Second VX4 Prototype Is Now Being Built</h3>
Leonardo is currently assembling a second prototype in Italy that include around 60 percent of its content from strategic suppliers, including the Molicel batteries. This vehicle has been expected to join the flight test program later this year. The proportion of certifiable hardware is expected to rise to 80 to 90 percent on the third prototype aircraft and the final production-conforming iteration coming together in the fourth aircraft to be built.
One key element will be the electric propulsion system that Rolls-Royce is developing for the VX4. It is unclear whether this will be available for installation on either the third or fourth prototypes. In May, Vertical’s chief&nbsp;technology officer Michael Cervenka told AIN that prospective customers for the VX4 are comfortable with the decision taken that month to <a href="https://www.futureflight.aero/news-article/2023-05-22/review-certification-process-and-key-supplier-contributions-prompted">delay the aircraft’s entry into service</a>. Asked about whether cash reserves would be sufficient to complete type certification with the UK Civil Aviation Authority and EASA, he said that a new round of fundraising to be completed this year could include some more “meaningful” pre-delivery payments from these operators.
In a <a href="https://futureflight.aero/news-article/2023-08-09/cash-reserve-reporting-reveals-haves-and-have-nots-among-evtol-aircraft">letter to shareholders on August 3,</a> Vertical reported cash reserves amounting to £89.7 million ($114.8 million) and said it is set to spend £80 million over the next 12 months as it works to bring the VX4 into commercial service with prospective customers including Bristow, Virgin Atlantic Airways, and Japan Airlines. The company's founder and CEO, Stephen Fitzpatrick said that the available cash reserves will support the start of crewed flight testing and the construction of an upgraded second prototype.
Joby Aviation's efforts to certify its SA-1 eVTOL aircraft have stayed on track since a<a href="https://www.futureflight.aero/news-article/2022-03-24/jobys-second-evtol-prototype-restarts-flight-testing-after-accident"> February 2022 crash </a>that destroyed its second prototype aircraft during remotely piloted flight tests in California. In March 2023, Bell suffered the loss of its <a href="https://www.futureflight.aero/news-article/2023-03-20/bell-apt-autonomous-cargo-drone-crashes-texas">Autonomous Pod Transport drone prototype </a>in a "loss of control" accident during flight testing in Texas.
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Vertical Aerospace

News

Vertical Aerospace Close to Flight Testing New eVTOL Prototype

Revolution.Aero Draws Advanced Air Mobility Leaders to London

Vertical Appoints New CEO To Bring eVTOL Aircraft to Market

Vertical's Second VX4 eVTOL Aircraft Almost Assembled for Flight Testing

UK Government Grants Vertical $10 Million Funding for eVTOL Propeller Development

Vertical Founder Pledges $50 Million To Sustain Work on VX4 eVTOL Aircraft

Vertical Provides More Details on eVTOL Accident with Flight Testing To Resume in Early 2024

Propeller Fault Caused Vertical's eVTOL Prototype Crash

Bonding Issue with Propeller Caused Vertical's VX4 eVTOL Prototype To Crash

Vertical Silent On Possible Impact of eVTOL Aircraft Prototype Flight Test Crash On Service Entry Timeline

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