Bullish indicating open at $55-$60, IPO prices at $37
LONDON & NEW YORK - Vertical Aerospace [NYSE: EVTL], a company at the forefront of electric aviation development, has announced the addition of three new members to its Board of Directors, aiming to enhance its financial and commercial strategies. The appointments come as the company progresses towards certification and commercialization of its electric vertical take-off and landing (eVTOL) aircraft.
Joining the board are James Keith (JK) Brown, Kris Haber, and Carsten Stendevad, with their appointments effective April 30, 2025, for Mr. Haber, and May 14, 2025, for Mr. Brown and Mr. Stendevad. Their collective experience in capital markets, business development, and scaling growth-stage companies is expected to be instrumental in guiding Vertical Aerospace towards its target of cash break-even by 2030. This leadership expansion comes at a crucial time, as InvestingPro analysis reveals the company has yet to achieve profitability, with analysts not expecting positive earnings this year. For deeper insights into EVTL’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
JK Brown brings a wealth of investment experience, having been a foundational partner at Och-Ziff Capital Management and a Senior Advisor at Thrive Capital. Kris Haber has over three decades of experience in corporate finance and business development, currently leading Vega Partners. Carsten Stendevad, with a background in global finance, serves as Partner and Co-Chief Investment Officer for Sustainable Investing at Bridgewater Associates.
Chairman Domhnal Slattery expressed enthusiasm for the new appointments, highlighting the pivotal year ahead as Vertical Aerospace advances its piloted test flight program. The company’s VX4, a piloted, four-passenger eVTOL, is heralded for its safety, comfort, and zero operating emissions.
The board expansion follows the recent advisory addition of Eamonn Brennan, former Director General of Eurocontrol, on March 7, 2025. Concurrently, Gur Kimchi and Kathy Cassidy are stepping down from their roles on April 30 and May 14, respectively, with the board growing to seven directors.
Vertical Aerospace has approximately 1,500 pre-orders for the VX4 from various global customers, including American Airlines and Japan Airlines, signaling strong market interest. Despite recent market volatility, the stock has shown resilience with a 12.27% return over the past week and a 16.53% gain over six months. The company’s leadership team boasts experience from leading aerospace and automotive companies, positioning it as a significant player in the burgeoning electric aviation industry. InvestingPro subscribers can access additional insights through 12 exclusive ProTips and comprehensive financial metrics that provide a deeper understanding of the company’s market position and growth potential.
This announcement is based on a press release statement and provides an overview of the strategic enhancements to Vertical Aerospace’s Board of Directors as the company advances towards its commercial goals.
In other recent news, Vertical Aerospace has outlined its financial and operational strategies during the Q4 2024 earnings call. The company emphasized its commitment to innovation in the electric vertical take-off and landing (eVTOL) aircraft sector, with plans to be fully funded through 2025 and targeting certification for its VX4 aircraft by 2028. The company reported a net cash usage of approximately $100 million in 2024, with projections of $110-$125 million for 2025. Vertical Aerospace raised $90 million from current investors and $60 million from new investors. Additionally, Vertical Aerospace has adopted the Combined Charging Standard (CCS) for its VX4 eVTOL aircraft, aligning with industry peers to establish a universal fast-charging infrastructure. The company has also appointed seasoned test pilot Paul Stone to its team to bolster its flight test capabilities. Vertical Aerospace has approximately 1,500 pre-orders for the VX4 from global customers, including American Airlines and Japan Airlines.
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