Partnership includes Avolon, Corporación América Airports, GOL, Grupo Comporte and Vertical Aerospace
Partnership will explore infrastructure requirements to make eVTOL operations a reality in Brazil this decade
Dublin/London/New York/São Paulo, 2 June 2022 – A partnership of global leaders in aviation and airports announces its intention to explore the infrastructure requirements to bring eVTOL passenger flight to Brazil within this decade. The partnership includes:
Avolon, the world’s second largest aircraft leasing company;
Corporación América Airports [NYSE: CAAP], the largest global private sector airport operator by number of airports;
GOL, Brazil’s largest airline;
Grupo Comporte, a leading Brazilian transport operator; and
Vertical Aerospace (Vertical) [NYSE: EVTL], the aerospace and technology company developing and manufacturing eVTOL aircraft.
The partnership will explore and define vertiport design and locations, as well as further infrastructure requirements for eVTOL operations in Brazil. With its well-developed Urban Air Mobility (UAM) market based on helicopter services, advanced aviation ecosystem and unique demographics, Brazil is set to become one of the pioneering markets for eVTOL services, including for Vertical’s VX4.
Each partner brings sector-specific and complementary expertise to bring eVTOL operations into operation in Brazil this decade. In particular, the partnership will benefit from Corporación América Airports’ special team dedicated to the research and development of the Advanced Air Mobility (AAM) segment and its two-decade long expertise in airports design, construction and operation, as well as passenger traffic management. Corporación América Airports has already developed its own conceptual vertiport design and progressed AAM traffic analysis across several countries.
With some of the most congested cities in the world, the introduction of eVTOLs, such as the VX4, will transform how people move around and above the urban landscape, in Brazil. The VX4 will permit short-haul zero emissions journeys that will revolutionise city air travel for Brazilians’ everyday lives by changing how we connect, commute and travel more efficiently, all in a more sustainable way.
This partnership builds on GOL’s and Grupo Comporte’s commitment to purchase or lease up to 250 of Vertical’s VX4 eVTOL aircraft from Avolon, announced last year. That commitment saw Avolon launch and lead a Working Group aiming at commercialising eVTOL aircraft in Brazil with Vertical Aerospace, Grupo Comporte and GOL. The Working Group has already conducted project familiarisation workshops with the Brazilian civil aviation authority Agência Nacional de Aviação Civil (ANAC) to permit the swift validation of the piloted, zero operating emissions and four-passenger VX4 aircraft. The VX4 is projected to have speeds of up to 200 mph, a range over 100 miles, be near silent when in flight and offer low cost per passenger mile.
Dómhnal Slattery, CEO of Avolon commented: “The scale of our ambition for eVTOLs is reflected in our partnerships with some of the leading transportation and airport operators in Latin America. We are partnered with companies that share our ambition to materially reshape the commercial aviation market. Our objective is to deliver the infrastructure requirements to bring zero emissions travel to Brazil mid this decade and revolutionise air travel in the region.”
Martin Eurnekian, CEO of Corporación América Airports, commented: “A new mobility ecosystem is arising and Corporación América Airports as a world leader in airport operations wants to be an agent of change in supporting the AAM implementation in those regions where we operate. With our expertise as airport operators in six countries in three continents along more than 20 years, we are committed to contribute with the development of the AAM ecosystem, in order to better connect people, goods and cultures and promoting a leaner, faster and more sustainable air transport.”
Paulo Kakinoff, CEO of GOL commented: "GOL completely bets on the expertise of CAAP in Advanced Aerial Mobility. Within reach, we have at hand a unique opportunity to unite the efforts of all parties involved to create a sustainable and safe operating ecosystem for eVTOL, with zero carbon emissions, both in Brazil and beyond. Constantly expanding in the regional segment, GOL is committed to including new and providential connectivity alternatives with this new air modal, based on its already extensive air network."
Stephen Fitzpatrick, Founder and CEO of Vertical commented: “I’m delighted that Vertical is partnering with Avolon, GOL, Grupo Comporte and CAAP to deliver critical eVTOL infrastructure in Brazil. It was in Brazil that I had the inspiration to begin Vertical Aerospace so it is incredible to see it becoming a reality there”.
About Corporación América Airports’ Operational Footprint
Corporación América Airports currently operates 53 airports globally, including 2 airports in Brazil. Through its Brazilian joint venture with Inframerica, Corporación América Airports operates the Brasilia airport – which is the second largest airport in Brazil by passenger numbers – and Natal. Additionally, it is the largest private airport concession operator in the world, based on the number of airports under management. Corporación América Airports brings substantial AAM thought leadership, having studied the AAM space since 2021 and has an internal AAM working group, that has developed a conceptual vertiport design and carried out AAM traffic analysis around the airports it operates in Brazil, Argentina, Uruguay and Italy.
About Avolon’s VX4 Orderbook
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace (NYSE: EVTL) valued at US$2 billion. Since announcing that order, Avolon placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, a minimum of 100 aircraft with AirAsia, and up to 100 aircraft with Gözen Holding. Avolon has now fully placed the entirety of its initial VX4 orderbook, with the orderbook being oversubscribed by 50 options.
About the VX4 eVTOL Aircraft
The four passenger, one pilot VX4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. Upon its introduction, the VX4 will be designed to the safest certification standards, set by EASA and the CAA, at the same level as commercial aircraft. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s second largest aircraft leasing business with an owned, managed and committed fleet, as of 31 March 2022, of 832 aircraft.
About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. The Company is the largest private airport operator in the world based on the number of airports. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2021, Corporación América Airports served 35.7 million passengers, 57.6% lower than the 84.2 million served prior to the pandemic, in 2019. The Company is listed on the New York Stock Exchange where it trades under the ticker “CAAP”. For more information, visit http://investors.corporacionamericaairports.com
GOL is the largest airline in Brazil – a leader in the corporate and leisure segments. Since founded in 2001, the Company has had the lowest unit cost in Latin America, thus democratizing air transportation. The Company has alliances with American Airlines and Air France-KLM and makes available several codeshares and interline agreements available to Customers, bringing more convenience and simple connections to any place served by these partnerships. With the purpose of “Being the First for All”, GOL offers the best travel experience to its passengers, including the largest number of seats and more space between seats; the greatest platform with internet access, movies and live TV; and the best frequent-flyer program, SMILES. GOLLOG delivers orders to different regions in Brazil and abroad in cargo transportation. The Company has a team of 15,000 highly qualified aviation professionals focused on Safety, GOL’s #1 value, and operates a standardized fleet of 135 Boeing 737 aircraft. The Company’s shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, go to www.voegol.com.br/ri
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the OVO Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.
Vertical’s ordinary shares listed on the NYSE in December 2021 under the ticker “EVTL”. Find out more: www.vertical-aerospace.com
Corporación América Airports
Chief Communications Officer
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