Vertical Aerospace Announces New Customer Sigma Air Mobility

LONDON & STRASSEN, Luxembourg--(BUSINESS WIRE)--Jul 20, 2026--

Vertical Aerospace (“Vertical” or the “Company”) (NYSE: EVTL), a global aerospace and technology company pioneering electric aviation, and Sigma Air Mobility, an advanced air mobility operator and member of the Luxaviation Group, today announced they have signed a Memorandum of Understanding (MoU) which includes the intended purchase of Vertical’s Valo eVTOL aircraft and supports the path from aircraft acquisition and operational testing through to the launch of commercial electric air mobility services.

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The MoU also establishes a framework for collaboration on aircraft operations, commercial readiness and customer requirements, further expanding Vertical's growing ecosystem of commercial operators and strategic partners preparing for the introduction of electric aviation.

By engaging with operators early in the development process, Vertical continues to ensure their Valo aircraft is designed to meet real-world operational requirements.

Michael Cervenka, Chief Commercial and Strategy Officer at Vertical Aerospace, said:

"Bringing a new class of aircraft into commercial service requires more than certification, it requires an ecosystem of experienced operators, customers and partners ready to deploy it at scale. Sigma Air Mobility and Luxaviation Group bring decades of operational expertise that will help ensure Valo integrates seamlessly into aviation networks and is ready to deliver for operators and passengers from day one."

Sigma Air Mobility is supported by Luxaviation Group, one of the world's largest private aviation operators with 50+ years of experience. Headquartered in Luxembourg, Luxaviation manages a global fleet of more than 200 business aircraft and, through ExecuJet, operates one of the world's leading fixed base operator (FBO) networks with more than 100 locations worldwide. Together, they bring decades of operational experience that will help support the future adoption of advanced air mobility.

Christophe Lapierre, CEO of Sigma Air Mobility, said:

"The transition to advanced air mobility will require collaboration between experienced operators and leading aircraft developers. Vertical has established itself as one of the industry's frontrunners, with a category leading aircraft. This strategic agreement takes us beyond the aircraft, furthering a vision to democratize air mobility while providing the ecosystem to support it. We look forward to working together to help prepare the next generation of electric flight."

Vertical has approximately 1,500 pre-orders for Valo from customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Beyond aircraft sales, Vertical is working with leading operators to simplify the adoption of electric aviation, including its "ready-to-fly" partnership with Bristow, which will provide customers with turnkey operations, including aircraft, pilots, maintenance and insurance.

The announcement follows continued progress across Vertical's business as it advances toward Critical Design Review (CDR), establishing the certifiable design baseline for Valo ahead of certification-conforming aircraft production and testing. Alongside commercial partnerships, Vertical continues to strengthen one of the aerospace industry's leading technology ecosystems through strategic supplier agreements with Honeywell Aerospace, Sonaca, Evolito, Hyundai WIA, Astronics, Syensqo and Isoclima.

About Sigma Air Mobility

Sigma Air Mobility is a pioneering force in the Advanced Air Mobility (AAM) sector, dedicated to transforming air transportation with a focus on sustainability and innovation. Sigma leverages end-to-end solutions that integrate OEM-advanced technologies, best-in-class customer experiences, and the highest safety standards. Our mission is to deploy and scale AAM operations, utilizing eVTOLs and eCTOLs to reduce environmental impact and enhance connectivity, in a pragmatic way, leveraging existing resources, expertise and infrastructure. Sigma Air Mobility is part of the Luxaviation Group, committed to leading the way in sustainable air transport, ensuring a nimble and efficient future for global mobility. https://sigmaairmobility.com/

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL.

Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical's experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

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 Memorandum of Understanding with Sigma Air Mobility for the pre-order of Valo aircraft, which are not legally binding, conditional and may be terminated without penalty at any time by either party; our ability to collaborate with Sigma Air Mobility on aircraft operations, commercial readiness and customer requirements; the design and manufacture of our aircraft and the hybrid-electric variant, certification and the commercialization of our aircraft and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the aircraft, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, completion of the piloted test programme phases, selection of suppliers, the differential strategy compared to our peer group; expectations surrounding pre-orders and commitments; as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in the Company’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. The Company 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.

Vertical Aerospace announces Sigma Air Mobility, a member of the Luxaviation Group, as new customer for its Valo aircraft

WASHINGTON (AP) — President Donald Trump on Monday imposed 50% tariffs on most Canadian goods, declaring that Canada has unfairly discriminated against American autos, alcohol and dairy products.

The move could unleash a new wave of economic chaos, with risks of higher inflation and further fraying of relations between two nations that had been closely woven together before Trump's return to the White House. The administration official previewing the action said that Canada was one of the only nations other than China that retaliated against Trump's previous tariffs and must be held accountable.

The official insisted on anonymity on a call with reporters to preview the president's actions and said that Trump signed three proclamations to launch the tariffs under Section 338 of the 1930 Trade Act. Several Democratic lawmakers last year proposed repealing the section because they said Trump could use it to destabilize the economy.

The new 50% tariffs would exclude energy products, potash, fish and critical minerals, but they would include goods that had previously been protected from import taxes by the United States-Mexico-Canada Agreement, or USMCA. That 2020 trade pact was not renewed by the U.S., triggering a new set of negotiations that could run until 2036.

The White House said in a fact sheet that the tariffs would go into effect in 30 days, meaning there is time for negotiations as Trump has not always followed through on his announced tax hikes on imports.

Still, the tariffs could escalate into a wider trade war as Canada seeks to defend its economy.

The Canadian federal government did not immediately comment on the tariff, but Ontario Premier Doug Ford saw a possible showdown ahead.

“If these tariffs proceed, Canada should respond tariff for tariff, dollar for dollar,” Ford posted on social media.

Candace Laing, CEO of the Canadian Chamber of Commerce, said the Trump administration's moves were “regrettable” but the two countries need to use the 30-day window before the tariffs start "to make meaningful progress in advancing formal talks.”

The tariffs also pose a threat to other U.S. trading partners, not just Canada, and inject “massive uncertainty” into the global economy, said Scott Lincicome, vice president of general economics at the Cato Institute, a libertarian think tank.

“We crossed the Rubicon,” Lincicome said. “The invocation of 338 is the nuclear option for Trump tariffs.”

The new tariffs carry serious political and economic risks for Trump ahead of the November midterm elections for control of Congress. His “Liberation Day” tariffs last year in April provoked a financial market meltdown over concerns about inflation and a recession, prompting him to walk back the rates for a period of negotiation.

The Supreme Court ruled this February that Trump had lacked the legal authority to impose the tariffs by declaring an economic emergency, causing the administration to find alternative ways to raise import taxes based on a series of legal authorities.

Tariffs are taxes on imports, which companies can then pass along to consumers in the form of higher prices. The president maintains that the costs created by tariffs will cause manufacturing to relocate to the U.S., though there is little evidence of that in the economic data.

The latest import taxes could worsen Trump's weak ratings on the economy. He promised voters when running for the presidency that he would bring prices down, but the annual inflation rate has risen since he became president because the tariffs and the war in Iran are pushing up oil prices.

The Trump administration official said the president had also requested that his aides look into additional tariffs on Canada because its wildfires hurt air quality in the U.S. He had publicly threatened to do so in social media posts.

At the World Cup final on Sunday, Trump watched the game with Canadian Prime Minister Mark Carney, who has openly challenged the U.S. president and has sought to expand Canada's trade relations with other nations. The Trump administration official said their time together at the game was not a working visit to discuss trade and tariffs.

Trump claims in the proclamations that Canada discriminates against American autos, alcohol and cheese relative to other nations, but his argument rests in large part on retaliatory actions taken by Canada after the U.S. president imposed tariffs on Canada under the pretext that it should do more to stop fentanyl smuggling.

Trump noted in his autos proclamation that Canada maintained, starting in April 2025, a 25% tariff on the imports of U.S. motor vehicles that did not qualify for preferential treatment under the USMCA.

The White House said that, regarding alcohol, all but two Canadian provinces and territories halted the purchase and retailing of American alcoholic beverages beginning last year, which was also a response to Trump's tariffs and taunts of making Canada the 51st state.

But Trump has long objected to Canada's treatment of U.S. cheese, saying in his proclamation that Canada discriminates against the U.S. compared to Europe on dairy products.

Trump and Carney have had a frosty relationship, with Carney, a former central banker, who pledged to stand up for Canada during his election campaign last year.

At the World Economic Forum in Davos, Switzerland, in January, Carney called out Trump — without naming him — by saying that the “most powerful” countries are using the economy to coerce less powerful nations.

Trump responded at the time by saying: “Canada lives because of the United States."

Associated Press writer Jim Morris contributed from Vancouver, British Columbia.

Canada Prime Minister Mark Carney speaks during a media availability in Jeddah, Saudi Arabia, Thursday, July 9, 2026. (Adrian Wyld/The Canadian Press via AP)

FILE - President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House on April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)