- Vertical selects CAE as its worldwide training partner for its
launch aircraft, the VX4.
- Pilots to be trained on CAE’s next-generation flight simulators
tailored to the VX4.
- Vertical and CAE’s shared customer base eases integration of
Advanced Air Mobility (AAM) training programs.
- CAE strengthens Vertical’s commercial ecosystem that will
deliver electric flight globally.
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace
and technology company that is pioneering zero-emissions aviation
and CAE [NYSE: CAE, TSE: CAE], a market leader in flight simulation
and training, today announced that CAE will be the pilot training
partner for Vertical’s launch eVTOL aircraft, the VX4.
CAE will design and develop a world-class training program and
be the exclusive training device provider, tailoring the
high-fidelity, next-generation flight simulation training device
for the VX4 aircraft. The innovative pilot training program will
leverage advanced technologies including Mixed Reality and
Artificial Intelligence to enhance the learning experience and will
help shift the training paradigm toward cost-effectiveness and
scalability, while ensuring safety is paramount for Vertical and
its operators.
Advanced Air Mobility (AAM) is expected to drive unprecedented
demand for qualified, professionally trained pilots for inner-city
and regional electric flights. Additionally, because CAE currently
provides training products and services to many of Vertical’s
industry-leading customer base, a smoother integration of new AAM
pilot training programmes into their training portfolios is
anticipated.
Upon the signing of a definitive agreement, Vertical and CAE
will start working together three years ahead of the VX4’s targeted
entry into service in 2025, a critical step towards making safe
eVTOL flights a reality.
Harry Holt, Deputy CEO of Vertical, said “Vertical has built its
commercial ecosystem with customers, regulators, and infrastructure
partners to enable AAM and ensure we have partnerships in place to
introduce safer, cleaner and quieter mobility for everyone.
Bringing CAE into our unrivalled ecosystem is a key enabler to
solve the training requirement for our customers, as we prepare for
the VX4’s entry into service.”
Nick Leontidis, CAE’s Group President, Civil Aviation, said
“CAE’s longstanding training relationships with top-tier airlines
and operators is a key differentiator for us as they expand into
eVTOL operations with Vertical. They know they can count on CAE for
advanced training as they venture into this new market. We are
excited to join Vertical’s ecosystem and work hand in hand to build
the aviation workforce of the future.”
This partnership announcement comes following Vertical’s recent
announcement of progress in its certification process for the VX4,
with the European Union Aviation Standards Agency (EASA) agreeing
to concurrently validate the UK Civil Aviation Authority’s (CAA)
certification of the VX4 and the adoption of SC-VTOL as the
certification basis for the aircraft. Vertical expects to reach
several critical certification milestones in the coming months, as
the VX4’s test flight programme begins in Summer 2022.
About Vertical Aerospace Vertical Aerospace is pioneering
electric aviation. The company was founded in 2016 by Stephen
Fitzpatrick, an established entrepreneur best known as the founder
of the Ovo Group, a leading energy and technology group and
Europe’s largest independent energy retailer. Over the past five
years, Vertical has focused on building the most experienced and
senior team in the eVTOL industry, who have over 1,700 combined
years of engineering experience, and have certified and supported
over 30 different civil and military aircraft and propulsion
systems.
Vertical’s top-tier partner ecosystem is expected to de-risk
operational execution and its pathway to certification allows for a
lean cost structure and enables production at scale. Vertical has a
market-leading pre-order book by value for more than 1,400 aircraft
from global customers creating multiple potential near term and
actionable routes to market. Customers include American Airlines,
Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and
FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland,
Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s ordinary shares and warrants commenced trading on the
NYSE in December 2021 under the tickers “EVTL” and “EVTLW,”
respectively.
About the VX4 eVTOL Aircraft The piloted zero operating
emissions four-passenger VX4, is projected to be capable of
travelling distances over 100 miles, achieving top speeds of up to
200mph, while producing minimal noise and has a low cost per
passenger mile. The VX4 is expected to open up advanced air
mobility to a whole new range of passengers and transform how we
travel. Find out more: vertical-aerospace.com
Vertical Media Kit Available here
About CAE At CAE, we equip people in critical roles with
the expertise and solutions to create a safer world. As a
technology company, we digitalize the physical world, deploying
simulation training and critical operations support solutions.
Above all else, we empower pilots, airlines, defence and security
forces, and healthcare practitioners to perform at their best every
day and when the stakes are the highest. Around the globe, we’re
everywhere customers need us to be with more than 13,000 employees
in more than 200 sites and training locations in over 40 countries.
CAE represents 75 years of industry firsts—the highest-fidelity
flight and mission simulators, surgical manikins, and personalized
training programs powered by artificial intelligence. We’re
investing our time and resources into building the next generation
of cutting-edge, digitally immersive training and critical
operations solutions while keeping positive environmental, social
and governance (ESG) impact at the core of our mission. Today and
tomorrow, we’ll make sure our customers are ready for the moments
that matter.
Follow us on Twitter: @CAE_Inc Facebook:
www.facebook.com/cae.inc LinkedIn: www.linkedin.com/company/cae
Hashtags: #CAE; #CAEpilot Read our FY22 Annual Activity and
Corporate Social Responsibility Report
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any express or implied
statements contained in this press release that are not statements
of historical fact may be deemed to be forward-looking statements,
including, without limitation, statements regarding the
certification and the commercialization of the VX4 and related
timelines, the differential strategy compared to its peer group,
and the transition towards a net-zero emissions economy, expected
financial performance and operational performance for the fiscal
year ending December 31, 2022, as well as statements that include
the words “expect,” “intend,” “plan,” “believe,” “project,”
“forecast,” “estimate,” “may,” “should,” “anticipate,” “will,”
“aim,” “potential,” “continue,” “are likely to” and similar
statements of a future or forward-looking nature. Forward-looking
statements are neither promises nor guarantees, but involve known
and unknown risks and uncertainties that could cause actual results
to differ materially from those projected, including, without
limitation: Vertical’s limited operating history without
manufactured non-prototype aircraft or completed eVTOL aircraft
customer order; Vertical’s history of losses and the expectation to
incur significant expenses and continuing losses for the
foreseeable future; the market for eVTOL aircraft being in a
relatively early stage; the potential inability of Vertical to
produce or launch aircraft in the volumes and on timelines
projected; the potential inability of Vertical to obtain the
necessary certifications on the timelines projected; any accidents
or incidents involving eVTOL aircraft could harm Vertical’s
business; Vertical’s dependence on partners and suppliers for the
components in its aircraft and for operational needs; the potential
that certain of Vertical’s strategic partnerships (including for
pilot training) may not materialize into long-term partnership
arrangements; pre-orders Vertical has received for its aircraft are
conditional and may be terminated at any time in writing prior to
certain specified dates; any potential failure by Vertical to
effectively manage its growth; the impact of COVID-19 on Vertical’s
business; Vertical has identified material weaknesses in its
internal controls over financial reporting and may be unable to
remediate the material weaknesses; Vertical’s dependence on our
senior management team and other highly skilled personnel; as a
foreign private issuer Vertical follows certain home country
corporate governance rules, is not subject to U.S. proxy rules and
is subject to Exchange Act reporting obligations that, to some
extent, are more lenient and less frequent than those of a U.S.
domestic public company; and the other important factors discussed
under the caption “Risk Factors” in our Annual Report on Form 20-F
filed with the U.S. Securities and Exchange Commission (“SEC”) on
April 29, 2022, as such factors may be updated from time to time in
Vertical’s other filings with the SEC. Any forward-looking
statements contained in this press release speak only as of the
date hereof and accordingly undue reliance should not be placed on
such statements. Vertical disclaims any obligation or undertaking
to update or revise any forward-looking statements contained in
this press release, whether as a result of new information, future
events or otherwise, other than to the extent required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220718005818/en/
Vertical Media Samuel Emden +44 7816 459 904 Harry
Roxburgh +44 7814 372 664 nepeanverticalteam@nepean.co.uk
Vertical Investors Eduardo Royes
investors@vertical-aerospace.com +1 (646) 200-8871 General
Media: Samantha Golinski, Vice President, Public Affairs &
Global Communications +1-514-341-2000 ext 7939,
samantha.golinski@cae.com Trade Media: Nathalie Siphengphet,
Director, Marketing & Strategy, Civil Aviation Training
Solutions +1-514-341-2000 ext. 2204, nathalie.siphengphet@cae.com
Investor Relations: Andrew Arnovitz, Senior Vice President,
Investor Relations and Enterprise Risk Management +1-514-734-5760,
andrew.arnovitz@cae.com
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