Vertical Aerospace (NYSE: EVTL) has initiated a review of strategic alternatives, including potential partnerships and financial arrangements, to support its next phase of development. The company has retained Jefferies LLC as its financial advisor for the process.

The announcement follows what the company described as a period of operational progress. In 2026, Vertical completed a piloted transition flight in a full-scale tiltrotor eVTOL aircraft and conducted five consecutive days of piloted eVTOL transition demonstrations at the Farnborough International Airshow.

CEO Stuart Simpson said in a statement: "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."

The company recently secured approximately $100 million in new financing and appointed former Airbus Commercial Aircraft CEO Fabrice Brégier as chair of its board.

Vertical said its operations, certification program, and commercial commitments will continue during the review. The company expects to complete its Critical Design Review by year-end 2026, with its early aircraft production facility and expanded Energy Centre scheduled to open later this year.

No timetable has been set for the review's completion, and the company said there is no assurance the process will result in any transaction or strategic change. According to the press release, Vertical does not intend to disclose further developments unless its board approves a specific course of action or disclosure is otherwise required.