The VX4, a five-person tilt-rotor craft, crashed on Aug. 9 during a flight test at Cotswold Airport, the U.K. company said in a regulatory filing this week. The exercise was meant to test maneuverability during a staged motor failure, a key requirement to progress to crewed operations.
He said it’s likely the company will need to conduct additional testing, raising its research spending and its cash burn above the £80 million it’s budgeted over the next 12 months. Vertical said in a shareholder letter posted prior to the crash that it planned to raise more capital this year.
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