At the Farnborough International Airshow in the U.K., Eve unveiled its first full-scale eVTOL air taxi prototype, assembled at Embraer’s test facility in Brazil’s São Paulo state.

In the U.S., Archer Aviation was the first to hit that milestone, followed shortly after by Joby Aviation and Overair. German eVTOL manufacturers Lilium and Volocopter each have rolled out full-scale prototypes as well, as has China’s EHang.

Eve’s 100 percent electric design now joins them. The lift-plus-cruise model is built to fly up to four passengers and a pilot on 60 sm (52 nm) air taxi routes in and around major cities. It will be piloted at launch, but the company intends to transition to uncrewed operations in the future.

The air taxi includes eight dedicated propellers for vertical flight and fixed wings for cruise, as well as an electric pusher powered by dual electric motors.

Eve seeks to introduce the aircraft commercially in 2026, in line with many of its competitors. The company received proposed airworthiness criteria, a key step toward that goal, from Brazil’s National Civil Aviation Agency (ANAC) in December.

“Our global team of engineers have shown exceptional dedication and expertise to successfully assemble our first full-scale eVTOL prototype,” said Johann Bordais, CEO of Eve. “This is a significant milestone that underscores our commitment to safety, accessibility and innovation.”

Eve is building its flagship air taxi using components and systems from a massive network of suppliers, and it announced two more at Farnborough: Diehl Aviation will design the eVTOL’s interior, while electric aerospace systems provider ASE will supply a power distribution system. Other Eve suppliers include Honeywell, Thales, Garmin, and BAE Systems.

On Tuesday at the airshow, the manufacturer announced another key collaborator, the smart infrastructure arm of technology conglomerate Siemens. The partners will work to gauge just how much energy an eVTOL network will require, as well as the best way to get that energy into the aircraft.

“The results and insights that Siemens and Eve Air Mobility will gain from this collaborative effort are expected to inform our strategy in preparing the ecosystem and developing services at scale for customers in the U.S. and, potentially, around the world,” said Luiz Mauad, vice president of customer services at Eve.

Eve last year announced the site of its first eVTOL manufacturing plant, where it intends to produce as many as 480 aircraft annually. Per the manufacturer’s fourth-quarter 2023 earnings report in March, it has an order pipeline of 2,850 aircraft, with the total value of nonbinding orders exceeding $8 billion.

Like this story? We think you’ll also like the Future of FLYING newsletter sent every Thursday afternoon. Sign up now.

The post Embraer’s Eve Rolls Out First Air Taxi Prototype appeared first on FLYING Magazine.

Eve Air Mobility, the manufacturer of a five-seat eVTOL design, on Wednesday signed an LOI with AirX—a Japan-based digital platform which primarily provides helicopter charter services—for the purchase of up to 50 Eve aircraft, as well as the manufacturer’s urban air traffic management software, called Vector, as AirX expands into electric air taxis. The agreement includes 10 firm aircraft orders and 40 options.

AirX also becomes Eve’s first services and operations solutions customer in Japan. Accordingly, Eve will provide services such as data management and network optimization.

“We appreciate AirX’s trust and confidence in Eve by not only purchasing our eVTOL aircraft, but services and operations solutions and our Vector—the urban air traffic management software,” said Johann Bordais, CEO of Eve. “Japan has been progressive in their approach and interest in eVTOL operations, and we look forward to continuing to expand our relationships as we support Japan’s urban air mobility [UAM] objectives going forward.”

Notably, AirX also has a relationship with EHang, the Chinese eVTOL manufacturer that in October earned the industry’s first type certification.

The companies last month opened a UAM center in Tsukuba, Japan, the first such facility in the country. The center will serve as a maintenance base and site for demonstration flights, but AirX plans to one day operate aerial sightseeing tours out of the location using EHang’s EH216-S. It will be open to both helicopters and eVTOL aircraft.

However, AirX also sees utility for Eve’s air taxi, as well as other benefits that come from working with the manufacturer.

“We are deeply impressed not only by Eve’s technological capabilities, but also by their commitment to building an ecosystem,” said Kiwamu Tezuka, CEO of AirX. “Our aim is to revolutionize the current industry, making transport services useful and affordable for everyone.”

Eve’s aircraft is a lift-plus-cruise design for up to four passengers and a pilot. In the future, the company plans to produce a self-flying model for six passengers. Eight propellers are dedicated to vertical flight, while fixed wings handle cruise—it has no moving parts, unlike the designs of competitors such as Joby Aviation and Archer Aviation.

The manufacturer is relying on a litany of suppliers—including Honeywell, Thales, Garmin, and BAE Systems—to provide components for the air taxi, such as electric propulsion systems, flight controls, avionics, and seats.

The model has an expected range of 60 sm (52 nm). Eve claims it will produce a 90 percent lower noise footprint than equivalent helicopters, as well as 90 percent less carbon dioxide compared to cars.

Eve has already begun assembly of an initial full-scale prototype at its first eVTOL production plant in Taubaté, São Paulo, Brazil, announced by Eve and Embraer in July. The build is expected to be followed by a test campaign later this year, with a commercial launch scheduled for 2026. In December, the manufacturer received proposed airworthiness criteria from Brazil’s aviation regulator: a key step toward type certification.

The air taxi is orchestrated by Eve’s Vector software, an agnostic platform designed to accommodate a range of eVTOL designs. AirX is the latest Vector customer, but Eve has several orders lined up for the technology.

According to the company, following the AirX agreement, it also has letters of intent for nearly 3,000 aircraft. Southeast Asia is shaping up to be a key market for Eve, which in February began a study to gauge the infrastructure requirements of launching service in the region. Outside Japan, it has customers and operating partners in Australia, South Korea, India, and elsewhere.

Eve will not operate the aircraft itself, but it will assist partners as they build out UAM ecosystems comprising vertiports, electric charging infrastructure, flight routes, and other features.

The manufacturer also intends for its air taxi to fly in the U.S. out of the San Francisco Bay Area, in partnership with United Airlines.

Like this story? We think you’ll also like the Future of FLYING newsletter sent every Thursday afternoon. Sign up now

The post Eve Receives Order For Up to 50 Electric Air Taxis From Japan’s AirX appeared first on FLYING Magazine.

The company said the Midnight is designed to complete two short, consecutive flights of 20 sm or so followed by charging sessions of about 10 minutes. Archer said it is working with the FAA to certify the aircraft in late 2024 and use it as part of an urban air mobility network in plans to launch in 2025.

• READ MORE: Archer, United Plan Route Between Newark Airport, New York

Archer is among numerous eVTOL startups including Joby Aviation, Eve Holding, and Vertical Aerospace, that are vying for shares of an air-transport segment that is yet largely undefined. While many companies have completed promising test flights with impressive aircraft designs, many hurdles remain. It is unclear, for example, how long it might take to certify the aircraft, considering the FAA has not yet fully developed certification standards for eVTOLs.

Archer, however, is sticking to its timeline. “From day one Archer’s strategy has always been about finding the most efficient path to commercializing eVTOL aircraft,” said Adam Goldstein, Archer’s founder and CEO. “We believe our strategy and team’s ability to execute on it has allowed us to establish our leadership position in the market, and is why we are confident we will be the first company to certify an eVTOL aircraft in the U.S. with the FAA.”

• READ MORE: Archer Aviation Offers a Glimpse of Air Taxi Operations

Archer says a high level of redundancy in Midnight’s design and its simple propulsion system will help make it safer than helicopters. Its 12 small propellers and planned cruising altitude of 2,000 feet will help make it relatively quiet, registering about 45 decibels when measured from the ground. Interestingly, Archer says it also focused on “high emotion” while developing Midnight with the idea of “inspiring passengers to want to experience it.”

In a separate announcement, Archer said it entered an agreement for Garmin to supply the Garmin G3000 integrated flight deck for Midnight. The company says the system “offers both an extensive certification pedigree and the configurability needed for Archer to bring its aircraft to market.”

Archer also says the popularity of Garmin equipment across general aviation will make the Midnight’s panel familiar to “a large swath of pilots.”

Making extensive use of existing technology from current certificated aircraft has long been part of Archer’s development strategy for the Midnight aircraft. The company says it focused on in-house development only for components it could not obtain from other aerospace suppliers. Archer says it now has “more than 64 percent of our suppliers for Midnight’s bill-of-materials selected.”

• READ MORE: Video Reveals Archer eVTOL Flight Tests

The post Archer Aviation Reveals Midnight Production eVTOL appeared first on FLYING Magazine.

If things go well as the service rolls out, Delta said the total investment could expand up to $200 million.

“We’ve found in Joby a partner that shares our pioneering spirit and commitment to delivering innovative, seamless experiences that are better for our customers, their journeys, and our world,” Delta CEO Ed Bastian said in a statement.

Beginning in New York and Los Angeles, Delta and Joby plan to integrate Joby’s services as a premium shuttle service to and from airports where Delta operates. This will run alongside Joby’s planned airport services, making the partnership mutually exclusive in the U.S. and the U.K. for half a decade after Joby’s commercial launch.

We’ve partnered with @Delta – the world's leading airline – to deliver a seamless, differentiated experience for Delta customers traveling to and from the airport, alongside our standard airport service. [1/2] pic.twitter.com/5g1WKnY0tX

— Joby Aviation (@jobyaviation) October 11, 2022

Joby’s pre-production prototype is propelled by six tilt-rotors and battery-powered electric motors. It’s designed to carry a pilot and four passengers at speeds of up to 200 mph (174 kts), with a maximum range of 150 sm on a single charge. 

Joby says the aircraft has flown more than 1,000 test flights, and that it was the first eVTOL company to be granted a G-1 (Stage 4) Certification Basis for its aircraft by the FAA. More recently, Joby has already received its Part 135 certification from the FAA, based on traditional, piloted aircraft for the short term.

• READ MORE: Joby Receives FAA Part 135 Certification

Joby Founder and CEO JoeBen Bevirt said Joby shares “Delta’s unwavering commitment to delivering seamless and sustainable journeys to customers” and looked forward to working together.

Analysts Push Back on Joby’s Plan

The partnership with Delta is a significant win for Joby, which became a publicly traded company in 2021 by merging with a special purpose acquisition company, or SPAC, like some of its competitors, Lilium (NASDAQ: LILM), Archer (NYSE: ACHR), Vertical Aerospace (NYSE: EVTL), and Eve (NYSE: EVEX). Since then, as a broad trend, many companies listed on the stock market using the SPAC format have underperformed for various reasons. 

• READ MORE: Cracking the Code for eVTOL Batteries

In Joby’s case, a scathing report from a prominent hedge fund, Bleecker Street Capital, claimed that the eVTOL company’s plan to gain FAA certification by 2024 and immediately begin commercial services is “so grandiose it is hard to fathom.”

“With no revenue, one prototype plane, and promises of the future, Joby has some of the most egregious guidance of any SPAC we have seen,” the hedge fund pushed back, which also said Joby used these projections to secure partnerships with companies like Toyota and Uber.

Delta, FAA Vertiports, and Industry Officials Help Joby’s Case

With Delta coming on board, Joby may have been able to shift the narrative. In late September, the FAA also released new design guidelines for vertiports, the infrastructure that will support advanced air mobility (AAM) aircraft. 

“Our country is stepping into a new era of aviation,” said associate administrator for airports Shannetta Griffin. “These vertiport design standards provide the foundation needed to begin safely building infrastructure in this new era.” 

Separately, in that same week, a group of aviation business leaders testified before a U.S. Senate Subcommittee on Aviation Safety, Operations, and Innovation, in which the group provided the lawmakers with critical updates about the progress of introducing new technologies into the national airspace system. 

At the time, NBAA president and CEO Ed Bolen outlined the business aviation case for advanced air mobility. Bolen urged the FAA to do all it could not to hinder the certificate process but to ensure the eVTOL makers could meet their 2024 deadlines.

• READ MORE: Business Aviation Leaders Meet With Senators To Discuss Future Technologies

As for Delta, Bastian said, “This is a groundbreaking opportunity for Delta to deliver a time-saving, uniquely premium home-to-airport solution for customers in key markets we’ve been investing and innovating in for many years.”

The post Delta, Joby Aviation Partner to Launch Home-to-Airport eVTOL Shuttle appeared first on FLYING Magazine.

As part of its Chicago XP program running through the end of September, Eve and Blade (NASDAQ: BLDE) are flying simulated air taxi commuter routes from three Chicago-area heliports. On the ground, passengers can use tablets outfitted with special software to view how Eve’s aircraft and a vertiport would appear during future operations.

The company plans to use data from the simulations to study requirements for eVTOL air taxi operations and infrastructure, as well as passenger services. 

Eve is among dozens of companies working to develop a fully-electric air taxi that promises a quick, convenient, environmentally friendly form of urban transportation for short flights over traffic gridlock. Eve says its air taxi could be ready to enter service as soon as 2026. 

It estimates the Chicago area has the potential to support a total fleet of 240 eVTOLS flying 150 routes along with 20 vertiports for takeoffs, landings, and operational maintenance. By 2035, Eve estimates Chicago air taxis could generate a yearly revenue of about $222 million.

“We foresee several flights during the day, probably demanding more than one pilot per aircraft at the beginning of the operation,” Eve vice president of services and fleet operations Luiz Mauad told FLYING. But it is early in the development of the industry and too soon to estimate how many pilots operators will need to operate one eVTOL over the day.

• READ MORE BAE Systems To Buy eVTOLs from Embraer’s Eve 

The emerging air taxi industry promises to create a career path for a new generation of pilots. 

“Flying air taxis could be an important part of a more sustainable solution to the pilot shortage, as long as simplified-aircraft-operation aircraft don’t short circuit that as a path to building flight time to reaching hiring minimums,” Rod Rakic, a downtown Chicago resident and regional airline pilot told FLYING Tuesday. “Air taxis could offer a sustainable path to getting to 1,500 hours, at real scale. Which would be far superior than shoving everyone we can into the right seat as a CFI.”

Rakic is a regional airline pilot, with more than 500 hours in Embraer ERJ-175s and also serves as COO at EZ Aerospace, which studies advanced air mobility for clients, including the U.S. Air Force. 

Blade is providing helicopter flights for Chicago XP, priced at $95—a price point that Eve says would be similar to expected fares in 2026, when Eve projects its air taxis will enter service. 

Chicago XP passengers can book flights on Blade’s website, board at one of the three meeting points, and then experience the eVTOL’s augmented reality experience during the helicopter flight. The three heliports taking part in the project include downtown Chicago, Tinley Park, and Schaumburg villages.

Eve is gathering data from the simulations to further understand the airspace, the passenger journey, and the vehicle journey with a goal to “make this industry very efficient in the future,” Mauad said. Analysts are tracking passenger times and movements and getting feedback from passengers about the flights. 

Feedback from the Chicago simulations will also help Eve put final design touches aimed at improving the passenger experience, Mauad said, including details like the size of the air taxi windows.

Rakic, who belongs to a flying club in Schaumburg, said options for potential air taxi landing locations in Chicago are severely limited. “Today the only vertiport available isn’t really downtown, it’s west of all the places people actually want to go, and the lakefront isn’t suddenly going to get more landing areas.”

Rakic suggests reopening Chicago’s Meigs Field, which closed in 2003, would provide a solution. “The reality is that regional air mobility (RAM) will have a much broader impact in the near term than with the technology we can expect to see anytime soon.”

“So far, it’s going very, very well,” Mauad said about the Chicago air taxi simulations. Since September 14, Eve has flown 60 to 65 passengers as part of the project. “They’re giving us good feedback about the future.”

The post Eve Is Flying Real-World Simulated eVTOL Routes appeared first on FLYING Magazine.

The $15 million provisional deal with Eve—the Embraer-backed (NYSE: ERJ) developer—includes the purchase of 200 four-seat air taxis, pending flight testing, certification, and production. 

Also, the agreement provides United with options to buy 200 additional eVTOLs, according to the September 8 news release. 

Eve Air Mobility—an Embraer spinoff—began trading as a separate company in May, with backing from another traditional airline, SkyWest (NASDAQ: SKYW). 

• READ MORE: Eve Air Mobility Begins Trading 

Eve is one of dozens of companies currently developing eVTOLs aimed at offering passengers quick, convenient, and emission-free hops over gridlocked traffic. The entirely new form of air transportation, supporters say, has the potential to create thousands of new jobs for pilots at a time when airlines are already suffering from lack of flight crew availability.

Maintenance Resources Partially Drove Deal

United’s deal with Eve comes just one month after Eve competitor Archer Aviation (NYSE: ACHR) announced it received a $10 million pre-payment from United to buy 100 Archer air taxis. Archer is currently flight testing a full-size air taxi prototype at its facility in California. 

It’s worth noting that former United CEO Oscar Munoz sits on Archer Aviation’s board of directors.

• READ MORE: Archer Aviation Receives $10 Million Pre-Payment From United Airlines

In a released statement, Eve and United offered a clue into the reason behind the airline’s decision to back a second eVTOL developer. The move “was driven in part by…Eve’s unique relationship with Embraer…Critically, their relationship includes access to Embraer’s service centers, parts warehouses and field service technicians, paving the way for a reliable operation. Upon entry into service, United could have its entire eVTOL fleet serviced by Eve’s agnostic service and support operations.”

From September 14th to 30th, our Eve Experience will take place in Chicago, an initiative that will prepare the city to launch electric urban air mobility (UAM) in the coming years.

Stay tuned to our social media to learn more!#EveChicagoXP #MobilityReimagined pic.twitter.com/RcbEaQFxjo

— Eve Air Mobility (@EveAirMobility) August 31, 2022

“United’s investment in Eve reinforces the trust in our products and services and strengthens our position in the North American market,” said Andre Stein, Eve’s co-CEO, in a released statement. “I am confident that our UAM [urban air mobility] agnostic solutions, coupled with the global know-how we have been developing at Eve and Embraer’s heritage, are the best fit for this initiative, giving United’s customers a quick, economical and sustainable way to get to its hub airports and commute in dense urban environments. It is an unparalleled opportunity to work with United to advance the U.S. UAM ecosystem, and we look forward to it.”

About the Aircraft 

Eve has incorporated rotors for vertical lift, conventional fixed wings, and pusher propulsion. The company says the aircraft will have “a practical and intuitive lift-plus-cruise design, which favors safety, efficiency, reliability, and certifiability.”

Current you: drive to the airport
2026 you: fly to the airport

Up to 400 flying taxis from @EveAirMobility could join our fleet as early as 2026, revolutionizing the commuter experience in cities around the world. https://t.co/OI1UCjswCP pic.twitter.com/cjF7dxfC9W

— United Airlines (@united) September 8, 2022

The air taxi is expected to have a range of 52 nm (60 miles) and the ability to “reduce noise levels by 90 percent compared to current conventional aircraft.”

In addition, Eve said it is “creating a new air traffic management solution designed for the UAM industry to scale safely.”

First deliveries of the new eVTOL aircraft, Eve said, could come as soon as 2026. 

The post United Airlines Doubles Down on eVTOL Air Taxis appeared first on FLYING Magazine.

Zanite Acquisition Corp. shareholders approved the merger Friday. Common stock for the newly named Eve Holdings Inc. will be listed on the New York Stock Exchange on Tuesday under the symbol EVEX. The company’s public warrants will be traded as EVEXW. 

It’s the latest development in a global industry aimed at designing, testing, and manufacturing small, zero-emission aircraft to ferry passengers on short flights across gridlocked urban areas. 

“The funding raised through the transaction provides Eve with growth capital and positions Eve well to execute its development plans, aided by our ongoing strategic partnership with Embraer,” said a statement released Monday by Eve’s co-CEO Andre Stein. “We intend to further strengthen our position as a leading global UAM player by delivering an effective and sustainable new mode of urban transportation.” 

Eve has previously said it has already secured launch orders from 17 customers, via non-binding letters of intent. Those deals could result in a pipeline of 1,735 eVTOL aircraft valued at about $5 billion, according to Eve.

Merger Details

The total amount of private investment in public equity (PIPE) closed Friday with the new company priced at $10 per share, totaling $357 million, $52 million more than expected.The PIPE included $185 million from Embraer, $25 million from Zanite’s sponsor and $147 million from a consortium of investors including:

• Acciona
• Azorra Aviation
• BAE Systems (OTCMKTS: BAESY)
• Bradesco BBI
• Falko Regional Aircraft
• Republic Airways
• Rolls-Royce (OTCMKTS: RYCEY)
• SkyWest, Inc (NASDAQ: SKYW)
• Space Florida
• Thales USA

The merger has been in the works for months—the latest eVTOL developer to take advantage of a SPAC’s ability to raise investment funds more quickly than a traditional IPO. 

Four competing air taxi developers—Germany’s Lilium (NASDAQ: LILM), Joby Aviation (NYSE: JOBY), Archer Aviation (NYSE: ACHR), and U.K.-based Vertical Aerospace (NYSE: EVTL)—also executed SPAC mergers in 2021. Another major German eVTOL developer, Volocopter, canceled plans for a SPAC merger last December.

• READ MORE: U.K.-based Vertical Aerospace Goes Public

About the Aircraft

Last month, Thales and Eve announced a partnership to develop avionics, flight control, navigation, communication, and connectivity systems for Eve’s proposed new aircraft. 

New innovation on Eve’s eVTOL is expected to include a man-machine interface designed from scratch, Eve CTO Luiz Valentini said last December. “This new interface is designed to simplify piloting tasks, increase safety and reduce the training of pilots when compared to helicopters.”

• READ MORE: Thales Joins Eve on Avionics

Eve’s air taxi design includes seating for a pilot and four passengers. Lifted by eight rotors and driven by two rear-mounted pusher propellers, the aircraft is expected to offer a range of 100 km (60 sm).

Digital simulator flights of the aircraft began in 2020. Commercial introduction is planned for 2026.

The post Embraer’s Eve eVTOL Spinoff To Begin Trading Tuesday appeared first on FLYING Magazine.

The Brazilian company announced Wednesday a strategic partnership with France-based aviation giant Thales to create avionics, flight control, navigation, communication, and connectivity systems for Eve’s proposed new aircraft. 

Eve has assured investors that it intends to utilize Embraer’s deep experience in aircraft development. “Embraer is a leading player in aviation in Brazil and globally, and has partnered with Thales for more than thirty years, and now Eve will leverage this partnership too,” said Eve co-CEO Andre Stein in a statement.

Thales already has established development facilities in the Brazilian cities of São José dos Campos and São Bernardo do Campos that will support the project. Thales said it plans to include its engineers from France, Canada and the U.S. 

About the Aircraft

The design for Eve’s air taxi includes capacity for a pilot and four passengers, eight rotors for vertical takeoffs and landings along with wings and two ducted fan propellers for horizontal flight. 

Digital simulator flights of the aircraft began in 2020. Commercial introduction is planned for 2026.

Thales and UAM

This isn’t Thales’ first eVTOL partnership. Last year, the company announced it was partnering with Airbus (EURONEXT FR: AIR.FP) on development of the CityAirbus NextGen eVTOL, overseeing NextGen’s primary computing system.

• READ MORE: Thales Joins Airbus on CityAirbus NextGen eVTOL

“Thales is actively engaged in urban air mobility [UAM] emergence,” said a statement from Yannick Assouad, Thales’ executive vice president, avionics. “We are particularly proud to take a new step in Brazil, joining Eve in a project that can be a game-changer for sustainable urban mobility worldwide.”

In addition to developing avionics, the Eve/Thales partnership includes extensive joint research on the overall feasibility of an eVTOL aircraft. 

The news comes shortly before Eve’s expected merger with Zanite Acquisition Corp., a special purpose acquisition company (SPAC) in a deal aimed at taking Eve public on a faster path than traditional IPOs.

• READ MORE: Eve Nears SPAC Merger

Other Eve Partnerships

The Thales announcement is just the latest partnership in Eve’s efforts to assemble necessary components for an eVTOL ecosystem.

• In 2021, Eve unveiled a partnership with France-based Helipass—a flight booking platform for tourism and air mobility that serves the helicopter industry.
• Also last year Eve entered an agreement with Flapper, an on-demand private aviation platform, to develop urban air mobility in Latin America.
• The company has also announced plans to bring air taxis to the Asia-Pacific region through an agreement with Ascent, another aviation taxi booking platform.
• Eve signed an agreement in 2021 with Kenya Airways to develop an urban air mobility strategy for East Africa along with Fahari Aviation.

The post Embraer’s Eve Air Mobility Partners with Thales appeared first on FLYING Magazine.

Eve and Zanite Acquisition Corp. announce filing of Definitive Proxy Statement. Read full news: https://t.co/BvCBonkOsa#mobilityreimagined #evtol #greentech #business

— Eve Air Mobility (@EveAirMobility) April 14, 2022

This meeting, scheduled for May 6, will allow stockholders who held Zanite’s stock in their portfolio as late as April 11 to vote virtually on the merger. The Zanite board of directors has encouraged shareholders to vote for the merger proposed in the proxy statement.

Both companies expect to complete the merger by May 9, after which Zanite would become “Eve Holdings, Inc.,” and the combined company’s common stock and public warrants would be listed and traded on the New York Stock Exchange under the symbols “EVEX” and “EVEXW,” respectively. 

While Eve Air Mobility would then be publicly traded, Embraer would retain approximately 80 percent of the company.

Strong Support from Investors

In a statement, Zanite expected the transaction to value Eve’s equity at $2.9 billion and would include approximately $237 million of cash from Zanite oAcquisition Corp.—assuming no redemptions—and an additional $305 million private investment in public equity (PIPE) commitment from a consortium investor such as Azorra Aviation, BAE Systems (OTCMKTS: BAESY), Bradesco BBI, Falko Regional Aircraft, Republic Airways, Rolls-Royce (OTCMKTS: RYCEY) and SkyWest, Inc (NASDAQ: SKYW).

Following the combination, Eve will have approximately $512 million that it will use toward gaining certification of its eVTOL. It will also be bolstered by a conditional, non-binding $5 billion order pipeline to deliver 1,735 vehicles to 17 launch customers, fixed-wing and helicopter operators, aircraft lessors, and ride-sharing platform partners.

Eve’s come-to-market approach through Embraer is different from the bevy of eVTOL startups that also went public via SPACs in 2021. In the time since it was founded in 1969, Embraer has delivered more than 8,000 aircraft and is a leading producer of business and commercial jets, which could prove to be a valuable asset in helping Eve bring its product to market. 

Eve’s leadership team all worked prominently at Embraer before transitioning to the air mobility company. Eve’s CEO, Andre Stein, first joined Embraer as a structural engineer in 1997 and ultimately became the head of strategy at EmbraerX, the innovation subsidiary of the Embraer Group.

About the Aircraft

Eve expects its four-seat, multi-rotor pusher eVTOL to be certified by 2025 and to enter commercial service by 2026. With a product roadmap that includes autonomous technology, seating for passengers would increase to six. That would come by 2030. With eight rotors and two pusher propellers, Eve’s expects its eVTOL to fly up to 60 statute miles on a charge.

Eve is attempting to capture a share of the emerging urban air mobility market aimed at developing small, environmentally friendly aircraft for short hops over traffic congested cities. 

The post Embraer’s Eve Nears Merger With Zanite SPAC appeared first on FLYING Magazine.

The news helped drive the price of Embraer stock 5 percent higher as markets closed Monday.

The deal calls for deliveries to begin in 2026. 

“Eve will support this new partnership with comprehensive solutions for aircraft operations, including air traffic management solutions, maintenance, training, and other services,” said president and CEO of Eve Urban Air Mobility Andre Stein in a statement.

“Eve’s eVTOL technology will integrate seamlessly with our electric amphibious fleet to deliver a range of tourism and commuter journeys,” said Aaron Shaw, CEO of Sydney Seaplanes, in the news release. 

Sydney Seaplanes plans to launch an all-electric, zero-emissions regional airline called Alt Air as soon as 2022. All-electric flights are expected as early as 2024. Depending on local approvals, the airline said it plans to operate some flights from Rose Bay aviation terminal in Sydney Harbour.

Several eVTOL Deals Across Asia-Pacific

The news comes on the heels of an agreement announced Saturday with another Australian airline—Nautilus Aviation—to purchase 10 Eve eVTOLs, also to be delivered by 2026. Nautilus—which bills itself as Australia’s largest helicopter operator—has set a goal of reaching net-zero emissions by 2030. 

Both announcements offer yet another signal of the importance of the Asian-Pacific market across the eVTOL industry. 

In fact, Eve announced a deal in August to provide aviation booking platform Ascent with 100 eVTOL aircraft in five cities across the region: Bangkok, Manila, Singapore, Tokyo, and Melbourne. 

Earlier this year, Germany-based eVTOL maker Volocopter made business moves targeting Japan, South Korea, and China.  

In 2019, Brazil-based Embraer unveiled its pusher eVTOL concept design, which includes eight rotors to allow the aircraft to hover, and two rear propellers to provide thrust during horizontal flight. 

The launch partner for Eve in the U.S. and U.K. will be Halo, which has a deal to order 200 Eve aircraft, with delivery starting in 2026. 

Although no eVTOL air taxis have yet been certified by aviation regulators, investors have identified the emerging industry as one to watch. Wall Street investment firm Morgan Stanley has projected the eVTOL market could be worth around $1 trillion by 2040.

The post Embraer’s Eve Cuts New eVTOL Deals in Australia appeared first on FLYING Magazine.