Vertical Aerospace hires Jefferies to review strategic options

Sept 24 (Reuters) - British electric aviation company Vertical Aerospace said on Thursday it had hired Jefferies to review strategic alternatives, including potential strategic and financial partnerships, as it seeks support for the next phase of development of its eVTOL aircraft.

The move comes as electric air-taxi developers seek fresh capital and strategic partners to help fund certification, scale up manufacturing and bring aircraft into commercial service.

• "As our focus moves to certification, industrialisation and commercialisation, we feel that now is the right time to explore our options for financing the next phase of our growth," said CEO Stuart Simpson.

• In March, Vertical secured a financing package of up to $850 million, including fresh equity and funding commitments from Mudrick Capital Management and Yorkville Advisors, to support flight testing, certification and initial production of its electric air taxi aircraft.

• Vertical has appointed former Airbus Commercial Aircraft division CEO Fabrice Bregier as board chair to help steer the company through its next phase of growth.

• It said operations and certification efforts would continue during the review and that it remains on track to complete its Critical Design Review by the end of 2026, though there is no assurance the process will result in a transaction or strategic change.