Vertical Aerospace reports progress with third quarter results

Vertical Aerospace has reported a net operating loss of £22million for the three months ended September 30, 2023, compared to a net operating loss of £19million in the prior year period.  As of September 30, 2023, Vertical had cash at bank and short-term deposits totalling £74million, which will be invested in the development of the company’s test and certification activities and in its people, systems and processes. Vertical reiterated its intention to raise additional capital in 2023 to “support its ongoing capital requirements, fund its future operations and remain as a going concern”.  Stephen Fitzpatrick, Vertical Founder and CEO, praised