[ad_1]

  • Vertical Aerospace Ltd 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 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.

[ad_2]

Source link