Vertical space travel, VX4 Air Taxi completed the first phase of pilot testing of its prototype. The company’s announcement sent shares up 3.9% in the U.S. premarket.

Testing in the first phaseSeveral piloted tethered flights and ground tests were performed. A total of 70 test points were completed, confirming the safety of the vehicle in real-world flight scenarios.

Preparations for the second phase tests have begun

Vertical space travel It is now preparing for phase two tests, which will include vertical take-off and landing, as well as low-speed flight maneuvers with propellers. The tests carried out are intended to further improve the operational capabilities of the vehicle.

VX4 Air Taxihas received 1,500 pre-orders worth $6 billion from major companies such as Virgin Atlantic, American Airlines and Japan Airlines. However, some eVTOL manufacturers must secure financing to continue testing and build production facilities.

Stephen Fitzpatrick, Founder of Verticalmissed the deadline to deposit some of the cash it had promised. Without those funds, Vertical could be short on cash by March 2025, Bloomberg noted. The company said it has ongoing discussions with Fitzpatrick and that he remains fully supportive of the company. It raised money in the first phase, including additional funding from Rolls-Royce, boosting its cash reserves to $84 million as of June 30.