- Vertical Aerospace (NYSE:EVTL) announced that Europe-based FLYINGGROUP, business jet operators, has conditionally pre-ordered up to 50 VX4 aircraft.
- This is Vertical's first commercial agreement within the business aviation market which increases Vertical's conditional pre-order book to up to 1.4K aircraft with a total value of $5.6B.
- FLYINGGROUP operates from aircraft bases across Europe and the Middle East; currently, it manages 45 conventional aircraft.
- The integration of the VX4 into its existing services will provide their customers with a sustainable, innovative, and efficient regional air mobility alternative.
- Vertical has already sold its VX4 to a diverse range of customers including aircraft lessors, airlines, and helicopter operators, including American Airlines, Virgin Atlantic, Avolon and Bristow.
- Shares trading 4.8% higher premarket.