Vertical Aerospace, a company that has faced a challenging few years of restructuring while working on their aircraft, has achieved a major milestone. They have successfully completed the first test flight of their VX4 prototype, a vertical take-off and landing electric air taxi. This achievement is significant as Vertical Aerospace is one of several companies hoping to introduce these eco-friendly modes of transport in busy cities around the world.
The company was founded by Stephen Fitzpatrick, also known as the founder of Ovo Energy. It received significant support from Dublin-based jet lessor Avolon. However, Fitzpatrick stepped down as CEO in 2023. Dómhnal Slattery, Avolon’s CEO until 2022, also served as Vertical Aerospace’s chairman until 2023 when he stepped down and was reappointed this year.
The VX4 prototype, piloted by chief test pilot Si Davies, took off, flew and landed in the UK on Tuesday, using its wing for lift, like a conventional aircraft. This is the third phase of testing, known as wingborne flight, where the aircraft relies on its wings for lift instead of rotor thrust. Vertical Aerospace believes that this low-power and quiet mode of flight is crucial for making electric air travel feasible, scalable, and economically viable.
The UK Civil Aviation Authority (CAA) approved the flight through open airspace at Cotswold Airport by extending Vertical Aerospace’s permit to fly. CEO Stuart Simpson stated, “Achieving piloted wingborne flight in open airspace under the oversight of the UK CAA is an important moment in our certification journey. ” He also mentioned that the company shares the responsibility of safety with their regulator and that every step must be approved, demonstrating their commitment to safety.
Vertical Aerospace is now closer to obtaining type certification, thanks to the UK’s strict regulatory framework. This achievement is a mini-certification for their prototype, which will pave the way for a faster and more transparent certification process.
Last year, Vertical Aerospace filed a lawsuit against a British company involved in the development and manufacturing of major components for their prototype aircraft. Additionally, the company went public in New York in 2021, with a valuation of $2. 2 billion. However, their market capitalization dropped to $162 million last year, but it has since increased to $455 million.
In conclusion, Vertical Aerospace has reached a significant milestone with the successful flight of their VX4 prototype. They have demonstrated their commitment to safety and their innovative approach to eco-friendly air travel. This achievement brings them one step closer to obtaining type certification and making their electric air taxis a reality in busy cities worldwide.