Air Taxi Company Completes Phase 2 of Piloted Flight TestsAir Taxi Company Completes Phase 2 of Piloted Flight Tests

Vertical Aerospace, an eVTOL (electric vertical takeoff and landing) vehicle maker, completed the second stage of piloted testing allowing its VX4 prototype to move into real-world operating conditions for the first time.   

For the completed testing, the electric aerial vehicle (EAV) completed more than 30 piloted test flights, which included hover and low speed flight maneuvers and handling and performance procedures including roll, yaw and spot-turns. 

The full-scale VX4 prototype tests were conducted at the company’s flight test center at Cotswolds Airport in the U.K. and now can move beyond the limits of secure airspace.

For the next test phase of wing borne flight, the Vertical needs approval from the U.K. Civil Aviation Authority (CAA) for a Permit to Fly. 

The next tests would involve take-off, flying and landing like a conventional aircraft, with lift generated by wings rather than rotors. 

After completing wing borne flight, the EAV would have completed a mini-certification process with the prototype. 

The final phase would be transition testing to demonstrate the ability to switch between vertical and forward flight modes.   

“This year has started with incredible momentum, and this phase of testing has given us invaluable insights into our phenomenal aircraft,” said Stuart Simpson, CEO of Vertical Aerospace. “Each milestone brings us closer to changing how the world moves, and we are taking these learnings forward as we continue advancing our piloted flight test program.”

Related:Vertical Aerospace Flies Full-Scale Electric Aircraft

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Vertical recently priced a public offering at $90 million to continue development of the VX4.

All the other air taxi services in development are working through similar regulatory approval processes.

Vertical Aerospace was recently offered a $75 million financing deal from its main creditor.

Mudrick Capital Management, which invested $200 million in the form of convertible senior secured notes in Vertical in 2021, proposed an equity offering to fund the company into 2026, according to an SEC filing.

Vertical said the company has the capital needed for the business to deliver its operational goals over the next 12 months.

This is the latest in the recent financial situation relating to the business of flying vehicles.

German eVTOL jet maker Lilium had announced it was facing insolvency after the company was denied a $54 million loan guarantee from the government of Bavaria. 

Lilium ultimately signed an asset purchase agreement with the Mobile Uplift Corporation, allowing the flying taxi company to continue business operations.

Related:Flying Taxi Company Files for $90M IPO

The deal with Mobile Uplift, a company set up by a consortium of investors from Europe and North America, gave the new investors the operating assets of the subsidiaries Lilium GmbH and Lilium eAircraft GmbH. 

On the other hand, flying taxi company Joby Aviation had announced a public offering of common stock aimed at raising $202 million for the EAV maker, which followed a $500 million investment from Toyota.

Vertical’s partners included Honeywell, which is designing the aircraft control system, and GKN Aerospace, Hanwha, Molicel, Leonardo and Syensqo. 

Rolls Royce, an original investor in Vertical, decided to leave the electric flight business and put its advanced electric propulsion systems business up for sale.

The EAV maker is building its flying vehicle to feature more advanced technology and is aiming for certification by the end of 2026. Vertical already has received design organization approval from the CAA.