Vertical Aerospace updates deliveries guidance ahead of Capital Markets Day presentation

Vertical Aerospace Ltd. (NYSE:EVTL) is holding its Capital Markets Day on Wednesday in New York City. The company said the event will provide key updates on the Flightpath 2030 business strategy, certification and manufacturing progress, and a new financial outlook. 

During the event, Vertical Aerospace (NYSE:EVTL) will formally announce its first manufacturing sites to support certification and early production. A new facility adjacent to the existing Flight Test Centre at the expanded Cotswold Airport site will have the capacity to produce 25+ VX4 aircraft annually and bring Vertical Aerospace's (EVTL) total footprint at Cotswold Airport to ~100,000 sq ft. Battery production will be expanded at the Avonmouth site adjacent to the company's existing Energy Centre. The new 30,000 sq ft battery facility will triple capacity for battery production and provide production capacity into 2030.

Vertical Aerospace (EVTL) management also plans to reaffirm its plan to certify the all-electric VX4 by 2028, requiring $700 million in funding to reach this milestone. Ahead of the Capital Markets Day event, Vertical Aerospace (EVTL) boosted its deliveries guidance, saying it expects at least 175 aircraft delivered cumulatively by 2030, versus prior guidance of at least 150. On the financial front, the company sees positive operating cash flow of over $100 million in 2030, versus prior guidance of just breakeven.

Shares of Vertical Aerospace (EVTL) were up 1.1% in premarket trading.