APPOINTMENT OF ADMINISTRATORS

The board of AERALIS Limited has appointed David Buchler and Joanne Milner of Buchler Phillips as Joint Administrators to the Company.

The appointment follows a sustained period of pressure on the Company’s cashflow as a result of continued delays to the UK Defence Investment Plan, combined with geopolitical factors affecting sources of funding.

AERALIS has developed an innovative modular light jet aircraft platform intended to support military training, operational support and aerobatic display requirements, including a potential future replacement for the Red Arrows. The business has established significant intellectual property, strategic partnerships and advanced digital engineering capabilities during its development programme.

The Joint Administrators will continue to work closely with management and stakeholders to assess strategic options for the business and its assets, including opportunities to secure investment, preserve value and support the continuation of the AERALIS programme in an alternative structure.

Robin Southwell, Chairman of AERALIS, said:

The Board has taken this decision after careful consideration of the Company’s position and the funding challenges it has faced over recent months. We will continue to support the Joint Administrators as they explore viable, sustainable options for the future of the business and engage with interested parties.

Joanne Milner of Buchler Phillips added:

AERALIS has developed a highly differentiated proposition within the aerospace and defence sector. We hope that the administration process will provide an opportunity to explore routes to preserve and develop that value for stakeholders.

Contact details

Press enquiries: Stephen Benzikie at stephen@buchlerphillips.com

Creditor queries: aeralis@buchlerphillips.com