SINGAPORE/IRELAND. AirAsia Aviation Group has signed a non-binding memorandum of understanding to lease a minimum of 100 electric vertical takeoff and landing (eVTOL) aircraft from Avolon, the international aircraft leasing company.
The aircraft – known as the VX4, a piloted four-passenger, zero operating emissions electric air taxi – is being developed by UK eVTOL company Vertical Aerospace.
In addition to the eVTOL aircraft, Avolon, through its investment and innovation affiliate Avolon-e, will partner with AirAsia to commercialise zero-emissions eVTOL aircraft and develop an industry-leading urban air mobility (UAM) platform in Southeast Asia.
Ireland-headquartered Avolon and AirAsia will form a working group to pursue local certification, research potential market opportunities and infrastructure requirements for UAM.
AirAsia will also leverage its successful travel and lifestyle mobile app, the AirAsia Super App, to help support and build an eVTOL ride-sharing platform with Avolon.
Avolon CEO Dómhnal Slattery said: “Tony Fernandes is an aviation pioneer who has built AirAsia into one of the leading airlines in the world and has now also created Southeast Asia’s fastest growing Super App anchored on travel.
“Together we will develop a ride-sharing platform and bring the zero-emissions VX4 aircraft into service, positioning AirAsia as the operator of choice for sustainable air travel in the region.”
Capital A (formerly AirAsia Group) CEO Tony Fernandes said: “I am truly excited about this partnership between Avolon and AirAsia and the potential for zero-emissions ultra-short-haul air travel in Southeast Asia.
“In the VX4, we have identified what we believe will be the eVTOL aircraft of choice and we are thrilled to be the launch airline for the aircraft in Southeast Asia.”
The VX4 is expected to be near silent when in flight, and with a low cost per passenger mile, Vertical Aerospace claims it will be an affordable option for passengers with a cost at a “slight premium” to a ground taxi.
Vertical Aerospace CEO Stephen Fitzpatrick said: “We are delighted that AirAsia is the latest leading airline committing to lease our zero-emissions VX4 aircraft.
“AirAsia provides many fantastic opportunities to travel around some of the most beautiful and diverse countries in the world, and I am thrilled that we will be bringing zero emissions flight to people all across Asia.”
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace, 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, and now the minimum of 100 aircraft with AirAsia.
As a result, Avolon has now placed up to 90% of its initial orderbook, underlining the demand for VX4 aircraft from the world’s leading airlines.
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