Merlin shares are trading lower. The company announced plans to pursue a civil certification strategy from small to large aircraft through a phased approach.

Merlin Plans To Pursue Civil Certification Strategy To Deploy Autonomy in Large Aircraft; Withdraws Its New Zealand Small Aircraft Certificate Application

Merlin intends to implement a phased, methodical approach offering opportunities for safety and efficiency gains. To concentrate its efforts on large aircraft, the company is withdrawing its small aircraft Supplemental

Merlin Announces Receipt Of Part 146 Aircraft Design Organization Certificate From Civil Aviation Authority Of New Zealand, Allowing In-House Approval Of Certain Aircraft Design Changes

Merlin shares are trading lower after Cantor Fitzgerald lowered its price target on the stock from $11 to $9.