Melbourne, Florida, December 21, 2021 – Eve Air Mobility, an Embraer company, and Azorra, a longstanding partner and lessor of Embraer aircraft, signed a Letter of Intent (LOI) to order up to 200 of Eve’s electric vertical take-off and landing (eVTOL) aircraft. This collaboration, in addition to the investor partnership announced today, confirms Azorra and Eve’s joint commitment to provide accessible transportation and infrastructure solutions for early adopters of the Urban Air Mobility (UAM) industry.
Eve’s strategic partnership with Azorra will focus on establishing a base of operators that plan for scheduled UAM missions and help to establish the requisite infrastructure needed to enable eVTOL flights around the world.
Azorra’s seasoned management team and relationship-driven business model provide the ideal platform to collaborate with Eve to support customer needs and develop leasing solutions.
“Azorra is excited to partner with Eve and be at the forefront of the eVTOL revolution. The practicality of Eve’s design, coupled with Embraer’s 50+ year proven track record of developing safe and reliable aircraft will position Eve well for a successful product launch,” said Ron Baur, President of Azorra.
In addition to Azorra’s order for up to 200 aircraft, the LOI creates an opportunity for both teams, together with future UAM operators, to propose new procedures and frameworks to enable the entire Urban Air Mobility ecosystem to complement Eve’s agnostic product and service portfolio.
“Today almost half of the commercial aircraft are leased and we believe leasing companies will also play an active role in Urban Air Mobility, allowing operators to remain asset-light. Azorra has a history of helping markets grow and we are excited to join them in this new frontier for aviation,” said Andre Stein, co-CEO of Eve.
Follow Eve and Embraer on Twitter: @EveAirMobility and @Embraer
Forward-Looking Statements Disclosure
This press release contains “forward-looking statements.” Forward-looking statements represent Azorra’s (the “Company”) current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” or “continue,” or other similar words. These statements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, reflect management’s current views with respect to future events and therefore are subject to significant risks and uncertainties, both known and unknown. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the capabilities, development, certification, marketing, and future operations of Eve UAM, LLC (“Eve”) eVTOL, the Company’s potential purchase of aircraft from Eve, and the anticipated benefits of the collaboration between the Company and Eve. The Company’s actual results may vary materially from those anticipated in forward-looking statements.
The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based that occur after the date hereof. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date hereof. New risks and uncertainties arise from time to time, and it is impossible for us to predict these matters or how they may affect us. We have included important factors in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021 (the “Annual Report”) which we believe over time, could cause our actual results, performance or achievements to differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements. You should consider all risks and uncertainties disclosed in the Annual Report and in our filings with the United States Securities and Exchange Commission (the “SEC”), all of which are accessible on the SEC’s website at www.sec.gov.
About Azorra
Azorra is a relationship-driven commercial aircraft lessor, providing lease, financing, and asset management solutions with a focus on regional, crossover and small narrowbody aircraft. Azorra’s team is led by industry veterans with a shared history of success and a wealth of experience in aircraft leasing. The company is headquartered in Fort Lauderdale, Florida and has an office in Dublin, Ireland.
For additional information, please visit us at www.azorra.com or on LinkedIn.
About Eve Air Mobility
Eve is a new, independent company dedicated to accelerating the global Urban Air Mobility (UAM) ecosystem. Benefitting from a startup mindset, backed by Embraer’s more than 50-year history of aerospace expertise, its singular focus takes a comprehensive approach to the UAM industry by providing a holistic ecosystem. Its advanced electric vertical aircraft (EVA) coupled with its comprehensive global services and support network, and a unique air traffic management solution make it a serious contender in this space. Eve is the first company to graduate from EmbraerX. For more information, visit www.eveairmobility.com.
About Embraer
A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive Aviation, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures and markets aircraft and systems, providing Services & Support to customers after-sales.
Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year. Embraer is the leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.
