- Vertical Aerospace Ltd (NYSE:EVTL) has received conditional pre-orders for up to 50 VX4 aircraft from FLYINGGROUP, a business jet operator with aircraft bases across Europe and the Middle East.
- This order represents Vertical’s first commercial agreement within the business aviation market. This partnership increases Vertical’s conditional pre-order book to up to 1,400 aircraft with a total value of $5.6 billion.
- The two parties have agreed to launch a Joint Working Group (JWG) to begin exploring FLYINGGROUP’s application of using the VX4 in the business aviation market.
- Separately, Vertical Aerospace confirmed delivery slots and the commitment of associated pre-delivery payments with American Airlines Group Inc (NASDAQ:AAL).
- American has reserved delivery slots for the first 50 VX4 aircraft of its initial conditional pre-order of up to 250 aircraft, with an option for an additional 100, announced in June 2021.
- Price Action: EVTL shares are trading higher by 19.66% at $3.47 and AAL higher by 0.67% at $14.35 on the last check Friday.
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