The agreement will see both companies collaborate throughout the development, road map to certification and subsequent commercial roll-out of the VA-X4 electrical VTOL aircraft. Avolon will join Microsoft, Rolls-Royce, Honeywell, and American Airlines as equity investors in Vertical, working also with Virgin Atlantic who will be a VA-X4 launch airline customer in Europe.
Avolon’s existing young and fuel-efficient fleet will be complemented by an investment in a new category of ultra-short-haul aircraft that will produce zero emissions. Deliveries will commence in late 2024, with an option to acquire additional aircraft up to a value of $750 million. Avolon-e has been established by Avolon to focus on investment in the zero-emissions eVTOL sector.
“Avolon is proud to be a launch customer for the VA-X4 aircraft, demonstrating our commitment to a net zero carbon economy and to driving innovation in the global aviation sector” said Dómhnal Slattery, Avolon CEO. “Our order with Vertical will also accelerate the inevitable commercial roll-out of zero emissions aircraft. Before the end of this decade, we expect zero emission urban air mobility, enabled by eVTOLs, to play an increasingly important role in the global commercial aviation market. In Vertical, we have identified a long-term strategic operator that shares our vision for a cleaner and more efficient mode of air transport. As we emerge from the COVID-19 pandemic, air travel will be materially reshaped with airlines needing to embrace emerging technologies that decarbonise air travel. We strongly believe that the VA-X4 will lead this transformation”.
The VA-X4 is a piloted, zero emissions electric Vertical Take Off and Landing (eVTOL) vehicle which can achieve speeds of over 200 mph and is near silent when in flight. It will have a range of over 100 miles and capacity for 4 passengers, and a pilot. The aircraft takes off vertically enabling it to operate in and out of cities and other confined locations. It is safer than a helicopter and is being certified to the highest global standards unlocking global market access.
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