The Brazilian airline company, GOL Linhas Aereas Inteligentes, and Irish aircraft leasing company, Avolon, have struck a deal to purchase or lease approximately 250 airplanes, to initiate an electric air taxi service in São Paulo by 2025.
GOL and Avolon to release VA-X4 eVTOL taxis to the Brazilian skies
This deal is a futuristic aviation coup d’état in the Latin American skies. The ferry of airplanes will emit zero carbon emissions and are dubbed to be low-cost electric air taxis.
Chief Executive of Avolon, Dómhnal Slattery, stated in an interview with the Financial Times that the two airline companies will seek to revolutionize air travel by creating the first of its kind electric air-travel fleet.
GOL Linhas Aereas Inteligentes stated that the fleet of VA-X4 eVTOL helicopters, produced by Britain’s Vertical Aerospace, would facilitate a surge in the former’s regional offering and aid in achieving GOL’s 2050 carbon neutrality goal. The endeavor will also invigorate GOL Linhas Aereas Inteligentes’ shares in the city of São Paulo.
Dómhnal Slattery from Avolon stated that helicopters were primarily the privilege of the “ultra-wealthy”. However, the Avolon executive indicated that the induction of VA-X4 eVTOLs helicopters to São Paulo skies would allow commuters to travel in a futuristic manner at an estimated operating cost of USD 1 per passenger for a 25-mile distance. The VA-X4 eVTOLs will look like a blend of a helicopter and a glider and will be brought into the aviation market in 2024 or 2025. Slattery told to the Financial Times that the company will try and achieve the low-cost target by receding the prices to an Uber ride’s fare equity.
The city of São Paulo is an emerging metropolis with over 12 million people, using over 8.6 million automobiles.
Stephen Fitzpatrick, the CEO of Vertical Aerospace, stated that the VA-X4 aircraft is idyllic for a city like São Paulo. Fitzpatrick stated that eVTOLs (electric vertical takeoff and landing) will revolutionize air travel in densely populated cities that are jammed with road traffic.
The Dublin-based Avolon has decided to purchase approximately 500 aircraft from Britain’s Vertical Aerospace. The deals for 250 jets for GOL Linhas Aereas Inteligentes are close to reaching an agreement and are expected within the next 1 year.
Paul Geaney, Chief Commercial Officer at Avolon, told Reuters that the company is expecting to have placed their whole initial order of 500 aircraft, within the next 1 year.
Avolon has been targeting the Asian market after the completion of the project in São Paulo.
GOL Linhas Aereas Inteligentes stated that the induction of electric air taxis is a part of their commercial plan to invest in the domestic air transportation sector in Brazil. GOL Linhas Aereas Inteligentes is planning to create new routes to a broad bandwidth of domestic markets.
At 15:00 GMT on Tuesday GOL Linhas Aereas Inteligentes’ favored shares surged to 3.3% to 19.48 BRL (USD 3.68), while the Bovespa index surged by approximately 0.8%.
GOL Linhas Aereas Inteligentes stated in a security filing that the Grupo Comporte, a holding company held by GOL’s major shareholders, will fund the VA-X4 eVTOLs transaction. The company did not reveal the exact figures of the fiscal deal.
GOL Linhas Aereas Inteligentes stated that the foremost step of the Avolon and GOL partnership is to initiate feasibility research which is inclusive of an analysis of the infrastructure and the accreditation of the aircraft.
Avolon believes that the electric air taxis would quickly pilfer commuters from the existing means of air travel. The firm is expecting to finish the VA-X4 eVTOLs certification procedure in Brazil by the year 2024.
Britain’s Vertical Aerospace is supported by American Airlines. The latter has recently declared a special 3-year codeshare and USD 200 million equity capital investment in GOL Linhas Aereas Inteligentes.