Partnership to create eVTOL ride sharing platform in Brazil

– Over 50% of Avolon’s orderbook for VA-X4 aircraft now placed

DUBLIN–(BUSINESS WIRE)–Avolon, the international aircraft leasing company, announces a partnership with Gol, Brazil’s largest airline and Grupo Comporte, Brazil’s leading transport operator, to commercialise an eVTOL ride sharing platform in Brazil.

Avolon, Gol and Grupo Comporte will collaborate to identify and target local partners, infrastructure and certification requirements across a range of commercial models, launching one of the world’s first eVTOL ride sharing businesses. As part of the agreement, Gol and Grupo Comporte has committed to purchase or lease up to 250 VA-X4 eVTOL aircraft.

The VA-X4, manufactured by Vertical Aerospace, will be the most advanced and safest eVTOL in the market on its introduction in 2024. Avolon is a launch customer for the aircraft which can transport four passengers and one pilot distances of 100 miles at up to 200 miles per hour. eVTOLs are central to the future of transport. They introduce the ultra-short-haul aircraft category to commercial aviation and will revolutionise air travel with VA-X4 zero emissions aircraft.

This announcement means Avolon already has commitments for over half of its order for 500 VA-X4 aircraft which was announced in June 2021.

Dómhnal Slattery, Avolon CEO, commented: “Today’s announcement represents a significant step in building an eVTOL ride sharing platform that will reshape the commercial aviation market in Brazil. The opportunities to deploy the VA-X4 are enormous. Gol and Grupo Comporte both bring broad and diverse networks, along with proven track records in scaling multiple businesses, making them the ideal strategic partners for Avolon. Their unparallel market access, coupled with our deep knowledge and relationships in the Brazilian aviation market, leaves us strongly positioned to capitalise on the expected demand for VA-X4 zero-emissions, ultra-short-haul transport.

This latest agreement underlines Avolon’s ability to fast track the commercialisation of the VA-X4 globally. In less than three months since becoming a launch partner for the aircraft, we have already placed over half of our initial aircraft order, demonstrating the significant appetite we are seeing from the world’s airlines for the VA-X4.”

Stephen Fitzpatrick, Vertical CEO commented: “The VA-X4 is ideal for a city like Sao Paolo with a population of over 22 million people. Our eVTOLs will transform how we travel around high population density cities that are clogged with traffic by taking to the skies with zero emissions aircraft. We look forward to working with our existing partners Avolon and our newest partners Gol and Grupo Comporte, on bringing this revolution in air travel to Brazil.”

ENDS

About Avolon

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 third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 June 2021 of 837 aircraft.

Website: www.avolon.aero
Twitter: @avolon_aero

About Gol

GOL is Brazil’s largest airline, leader in the corporate and leisure segments. Since its founding in 2001, it has been the airline with the lowest unit cost in Latin America, which has enabled the democratization of air transportation. The Company has a strategic alliance with Air France-KLM, in addition to making available to Customers many codeshare and interline agreements, bringing more convenience and ease of connections to any place served by these partnerships. With the purpose of “Being First for Everyone”, GOL offers the best travel experience to its passengers, including: the largest inventory of seats and the most legroom; the most complete platform with internet, movies and live TV; and the best loyalty program SMILES. In cargo transportation, GOLLOG delivers parcels to various regions in Brazil and abroad. The Company has a team of 15,000 highly qualified airline professionals focused on Safety, GOL’s number one value, and operates a standardized fleet of 127 Boeing 737 aircraft. GOL’s shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, visit www.voegol.com.br/ir.

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 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 1,200 combined years of experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical’s unrivalled top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification, allow for a lean cost structure and enable production at scale. Vertical has received conditional pre-orders for a total of up to 1,000 aircraft from American Airlines and Avolon, including a pre-order option from Virgin Atlantic, and in doing so, is creating multiple potential near term and actionable routes to market. With speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile, the VA-X4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel.

About VA-X4 eVTOL Aircraft

The VA-X4 is a piloted, zero emissions electric Vertical Take Off and Landing (eVTOL) vehicle. The VA-X4 will be capable of travelling over 200mph, with 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. The VA-X4 is 100 times quieter and safer than a helicopter and is being certified to the highest global standards unlocking global market access.

Contacts

Ross O’Connor

Head of Investor Relations

roconnor@avolon.aero
T: +353 1 231 5818

Emmet Moloney

Head of Communications

emoloney@avolon.aero
T: +353 1 556 4429

Jonathan Neilan

FTI Consulting

avolon@fticonsulting.com
M: +353 86 231 4135

GOL Linhas Aéreas
InPress Porter Novelli

gol@inpresspni.com.br

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